The US Fed held the federal funds target range steady at 3.5 per cent and 3.7 per cent. While Chairman Kevin Warsh avoided giving a rate forecast, the dot plot showed the central bank officials expect a chance of a rate hike in 2026.
Most Asia-Pacific markets were trading lower in the early trade on Thursday. The Hang Seng and the S&P ASX 200 were down 1.06 per cent and 0.35 per cent, respectively.
Meanwhile, Japan’s benchmark index scaled a fresh high, rising beyond the 71,000 mark. The index was up 1.94 per cent.
Overnight, the Dow Jones Industrial Average hit a fresh high intraday, but erased gains. The index settled 0.98 per cent down. The S&P 500 and the Nasdaq Composite ended 1.21 per cent and 1.34 per cent down, respectively.
Brent crude prices extended losses following the signing of an interim agreement between the US and Iran, which will open the Strait of Hormuz and waive Washington’s sanctions on Tehran’s oil.
The June future contract was quoted at $78.37 per barrel on the Intercontinental Exchange, down 1.48 per cent.
IPO Today
Riyaasat Lifestyle and Avience Biomedicals initial public offers (IPOs) will open for subscription on Thursday. The two book-built issues consist entirely of fresh equities worth ₹30.77 crore and ₹30.24 crore, respectively.
Four SME IPOs will enter their second day of subscription. These are Leapfrog Engineering, Liotech Industries, Diksha Polymers, and Clay Craft.
