Asian benchmarks mostly decline as investors anticipate US rate cut
Asian markets mostly declined as investors anticipated a US Federal Reserve interest rate cut, expected to be the third this year. Japan's Nikkei 225 and Hong Kong's Hang Seng both fell by 0.4%, while the Shanghai Composite dropped 0.6%. The US stock market remained near record highs, driven by expectations of the rate cut. Treasury yields rose following a report on job openings. The Fed's decision and future rate guidance are highly anticipated, with inflation concerns persisting.
AP News·