Fed interest rates, gold, Nikkei 225, Hang Seng Index


Aerial view of Singapore skyline.

Tang syndrome Yue Fang | Moment | Getty Images

Spot gold prices rose to a new record on Thursday after the Federal Reserve held its benchmark interest rate steady at a target range of 3.5% to 3.75% overnight.

Gold prices rose more than 3%, surpassing the $5,500 per ounce mark for the first time.

Asia-Pacific markets were mixed on Thursday. Australian S&P/ASX 200 Index down 0.69%.

Japanese Nikkei 225 Index rose 0.18%, while the Topix fell 0.57%. South Korea’s Kospi rose 1.09% and the small-cap Kosdaq rose 2.69%.

Samsung Electronics shares rose 1.6% after hours The company on Thursday reported fourth-quarter profit more than tripledIt set a new record and beat expectations due to a shortage of memory chips and strong demand for artificial intelligence servers.

Hong Kong Hang Seng Index futures were at 27,565 points, lower than the Hang Seng Index’s last closing point of 27,826.91 points.

Investors will be keeping a close eye on Indonesia’s Jakarta Composite Index, which plunged more than 8% on Wednesday after index provider MSCI issued a statement warning the country could be downgraded to frontier market status.

Goldman Sachs said in a note on Thursday that the investment bank downgraded Indonesia to underweight in anticipation of further passive selling. The bank’s strategists also viewed the development as an “overhang that will hamper market performance.”

Overnight in America, S&P 500 Index Reached a milestone level, touching 7,000 for the first time before falling back as the Fed adjusted Keep interest rates unchanged and raised its economic growth assessment.

The broader market index ended the day down 0.01% at 6,978.03 points. Earlier, the S&P 500 rose 0.3% on the day, hitting an all-time high of 7,002.28 points.

this Dow Jones Industrial Average It rose 0.02% to close at 49,015.60. this Nasdaq Composite Index Outperforming the market, it rose 0.17% to 23,857.45 points.

Treasury yield move up Following the Fed’s decision, a central bank statement showed economic activity had been “expanding steadily” and the unemployment rate was “showing some signs of stabilization.”

“I think, and many of my colleagues agree, that it’s very difficult to tell based on the data that’s coming in whether current policy is significantly restrictive,” Fed Chairman Jerome Powell said at a news conference.

—CNBC’s Sean Conlon and Pia Singh contributed to this report.



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