ANALYSTS continue to be positive on Asian fixed-income instruments and equities, after the US Federal Reserve chair Jerome Powell said a rate cut in September is “on the table”, provided inflation data continues to look promising.
The Fed maintained the key interest rate at 5.25 to 5.5 per cent, as “further progress” has been made towards its 2 per cent inflation goal, said Powell at his post-Federal Open Market Committee (FOMC) press conference.
Asian markets rallied at the news, but were mixed around midday. Around noon, Hong Kong’s Hang Seng Index and the Bursa Malaysia Kuala Lumpur Composite Index fell 0.2 per cent, while Singapore’s benchmark Straits Times Index was down 0.8 per cent.
