Asian stocks slid on Thursday after the Federal Reserve forecast fewer interest-rate cuts next year. The yen dropped as the Bank of Japan refrained from raising borrowing costs. Equity benchmarks in Japan, Australia and South Korea declined, helping drag a gauge of regional equities down by as much as 1.7%. The losses mirrored a slump in US shares in the previous session, with the S&P 500 suffering its biggest loss since 2001 for a Fed decision day. China’s benchmark gauge CSI 300 pared declines. The yen weakened past the key level of 155 versus the dollar following the BOJ decision, with traders awaiting clues about the rate outlook from Governor Kazuo Ueda’s news conference later Thursday. The move comes after the Fed lowered rates by 25 basis points on Wednesday as expected, with the median policymaker now seeing just a half-percentage point of reductions next year, half of what was expected in September. The 155 level for the dollar-yen pair is closely watched by strategists, who see a slide to this mark as a potential trigger for verbal intervention from Japanese authorities, and added pressure on the BOJ to hike rates. In the broader foreign-exchange market, the prospect of fewer US rate cuts supported the dollar and sent Asian currencies tumbling. India’s rupee slid to a record low while the South Korean won dropped to its weakest level in more than 15 years. Treasury yields edged higher after rising across the curve in the prior session. Back in the US, the last time the S&P 500 saw losses of the magnitude on Fed’s decision day was on Sept. 17, 2001, when the index fell nearly 5%. It dropped 12% on March 16, 2020, a day after the Fed’s emergency weekend meeting during the pandemic. Fed Chair Jerome Powell said the central bank would be more cautious as it considers further adjustments to the policy rate, noting the Fed is committed to reaching its 2% inflation target. “We need to see progress on inflation,” he said. “We moved quickly to get to here but moving forward we are moving slower.” Whitney Watson of Goldman Sachs Asset Management expects the Fed to skip a rate cut in January before resuming on its easing path in March. “While the Fed opted to round out the year with a third consecutive cut, its New Year’s resolution appears to be for a more gradual pace of easing,” said Watson, global co-head and co-chief investment officer of fixed income and liquidity solutions at the firm. Over in China, authorities ramped up support for the currency via its daily reference rate after the Fed’s caution over future rate cuts sent the offshore yuan to a fresh one-year low. Contemporary Amperex Technology Co., the world’s top electric-vehicle battery maker, is considering a second listing in Hong Kong that could raise at least $5 billion, according to people familiar with the matter. Shares of Asian memory chipmakers and their suppliers fell after Micron Technology offered disappointing revenue forecast. In the US, President-elect Donald Trump said he opposed a proposed funding bill and threatened to oust fellow Republicans if they accepted legislation that didn’t include his demands, increasing the likelihood of a government shutdown later this week. House Majority Leader Steve Scalise said the stopgap funding measure released Tuesday was dead. The Fed’s Wednesday cut precedes a busy run of central bank announcements from around the world. Rate decisions are expected Thursday in the Philippines, Taiwan, the UK, Norway, Sweden and Mexico. China’s one-year Medium-Term Lending Facility rate may be announced at any time through Dec. 24. In commodities, oil fell as expectations for fewer Fed rate cuts boosted the dollar. Gold staged a partial recovery in Asian trading after tumbling more than 2% in the previous session. US After Hours WS -14.6%, MU -13.2%, MLKN -9.6%, LEN -6.8% lower on earnings; MESO +45.7% as FDA approves Ryoncil); BILL +5.1% on news it will join the S&P MidCap 400, LII +3% will join S&P 500.
Nikkei -0.69% Hang Seng -0.57% CSI +0.07% Shanghai -0.35% Shenzen +0.31%
Eur$ 1.0387 CNH 7.3117 CNY 7.2985 JPY 155.21 GBP 1.2594 CHF 0.8994 RUB 104.7048 TRY 35.0514 WTI$ 70.19 -0.55% Gold 2,609 +0.93% BTC 101,095 +0.14% ETH 3,675 -0.40%
S&P +0.12% Nasdaq -0.15% EuroStoxx -1.63% FTSE -1.074% Dax -1.33% SMI -1.12%
Macro :
- Bitcoin Briefly Drops Below $100,000 as Fed Outlook Saps Crypto
- Fed hints at slower rate cut pace, raises inflation estimates
- Dutch to Extend Law to Block Foreign Deals to More Industries
- Gundlach Says He Doesn’t See Aggressive Fed Cut Cycle in 2025
- Europe Car Sales Dip as Automakers Battle Consumer Slowdown
- EUROPE CAR SALES FELL 2% TO 1.06 MILLION IN NOVEMBER
- Somber Risk Mood After FOMC Douses Rate-Cut Fervor: Macro Squawk
- Somber Risk Mood After FOMC Douses Rate-Cut Fervor: Macro Squawk
- Scholz’s Far-Right Rival Puts Germany’s EU Exit on the Ballot
- Global Chip Stocks, Suppliers May Fall on Micron’s Forecast Miss
- Companies That Spent Billions on M&A Are Now Selling for Peanuts
- California declares a state of emergency as a new severe bird flu case was discovered. What it means for the rest of the
Keep an eye on :
Keep an eye on :
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- BIOAB SS : Bioarctic Enters Global License Deal With Bristol Myers Squibb
- BGC US : Howard Lutnick’s Son Takes CEO Role at Cantor Fitzgerald SPAC
- BGC US : Howard Lutnick’s Son Takes CEO Role at Cantor Fitzgerald SPAC
- CVX US : Woodside, Chevron Agree to Asset Swap (1)
- CBK GY : Commerzbank volume picked up after the German government told Unicredit to exit its stake, Sept. 2025 13 put vs 18 call traded 23K lots, opening a new position
- CRAYN NO : SoftwareOne Offers to Buy Crayon for $1.14 billion
- DOMS IM : Doms Industries Shares Drop After 4.6% Equity Traded in a Block
- DOU GY : DOUGLAS Group achieves strong results and strategic progress in financial year 2023/24
- EMEIS FP : Emeis Reports €251m in Disposals of Assets Since Oct.
- ENEL IM : Kretinsky’s EPH to Buy Enel’s Stake in Main Slovak Power Utility
- EVK GY : Big block of Evonik Industries crossed late in the day, Dec. 2025 20 calls traded 15K lots at 0.36
- FILA IM : Updated: Doms Industries shares are trading lower after Fabbrica Italiana Lapis ed Affini announced the launch of placement of
- GLEN LN : Glencore Boosts Middle East Oil Buying for Singapore Bukom Plant
- 3692 HK : Hansoh Shares May Rise on Obesity Drug Deal With Merck: Analysts
- LEN US : *LENNAR SHARES FALL 7% POSTMARKET AFTER RESULTS
- LII US : Lennox Shares Gain on Plan to Replace Catalent in S&P 500 (1)
- MARE IM : Mare Engineering Group Offers Up To EU15.5 Million Shares
- MU US : Micron Tech Shares Sink After ‘Awful’ Forecast: Street Wrap
- NSKOG NO : Norske Skog, Statkraft Sign 3-year Power Contract for 1 TWh
- JWN US : The Nordstrom Family and El Puerto de Liverpool Near a Deal to Buy Nordstrom Inc.
- P911 GY : Porsche AG Weighs Taking Majority Stake in Bugatti JV: ManMag
- RNO FP : Hon Hai’s Seki in Talks With Nissan’s Shareholder Renault: CNA
- ROG SW : Roche Phase IIb Study of Prasinezumab Missed Primary Endpoint
- SPM IM : Saipem Wins Offshore Contract in Nigeria Worth $900m
- SCATC NO : Scatec reaches financial close in Botswana and prepares for construction start
- SWON SW : Softwareone Offers to Buy Crayon for NOK144/Shr in Cash, Stock
- SON US : TOPPAN Holdings Buys Sonoco's TFP Business
- TIT IM : Italy, Asterion Make Binding Offer for Telecom Italia’s Sparkle
- TIT IM : calls trading in Telecom Italia, Feb. 2025 €0.3 calls traded a total of 20K lots @ €0.0095 and €0.01
- TRN IM : Terna Signs Two ESG-Linked Credit Facility Deals for €250M
- VH2 GY : FRIEDRICH VORWERK wins major contract for the realisation of key parts of the WAD natural gas transmission pipeline in
- VOW GY : Volkswagen, Union Talks May Continue Into Thursday: Reuters
- VOW GY :Volkswagen Buys Stake in Lithium Firm for $48 Million (Correct)