Asian markets today: Asian markets showed a mixed trend on Thursday after U.S. Federal Reserve Chair Jerome Powell signaled that a rate cut in December was far from certain.

South Korea’s Kospi hit record high on Thursday, opened 1.37 per cent higher, supported by gains in auto and shipbuilding stocks, while the Kosdaq slipped 0.1 per cent.

In Japan, the Nikkei 225 edged slightly below the flatline at the open, whereas the Topix gained 0.1 per cent.

Australia’s S&P/ASX 200 began the session 0.29 per cent lower.

Meanwhile, Hong Kong’s Hang Seng Index was set to open higher as trading resumed after a holiday, with HSI futures at 26,598 — above the previous close of 26,346.14.

On Wednesday, the Federal Reserve cut the benchmark federal funds rate by 25 basis points, as anticipated, bringing it down to a range of 3.75 per cent–4 per cent.

Meanwhile in Asia, investors are keeping a close eye on the upcoming meeting between U.S. President Donald Trump and Chinese President Xi Jinping — their first face-to-face interaction in Trump’s second term.

US stock market today

The Dow closed lower while the S&P 500 ended nearly unchanged on Wednesday, after the Federal Reserve announced an interest rate cut. However, Fed Chair Jerome Powell cautioned that another reduction in December is not guaranteed.

Meanwhile, the Nasdaq hit another record high, driven by Nvidia’s surge after the AI chipmaker became the first company ever to reach a $5 trillion market capitalization.

The Dow Jones Industrial Average slipped 74.37 points, or 0.16 per cent, to 47,632.00; the S&P 500 edged down 0.30 points to 6,890.59; and the Nasdaq Composite rose 130.98 points, or 0.55 per cent, to close at 23,958.47.

Fed officials also highlighted that the ongoing U.S. government shutdown had constrained their decision-making. The central bank lowered its benchmark overnight rate to a target range of 3.75 per cent–4.00 per cent, marking its second rate cut this year.

Nvidia’s shares climbed 3 per cent to $207.04, lifting its market capitalization to $5.03 trillion. The stock has gained over 50 per cent so far this year, continuing to lead Wall Street’s artificial intelligence rally.

After the market closed, shares of Meta Platforms, Microsoft, and Alphabet showed mixed movements following the release of their quarterly earnings reports.

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