TOKIO/HONGKONG/SHANGHAI/SYDNEY The stock exchanges in the Far East followed the US stock exchanges, which had already closed weakly the previous evening after a roller coaster ride. In Japan, however, nothing moved, because “Day of Culture” is celebrated there.
In China, the recovery rally on the stock exchanges that began two days ago came to an end: the CSI 300 index with the 300 most important Chinese companies on the mainland stock exchanges recently fell by 0.61 percent to 3651.61 points. Speculation of a foreseeable departure from the government’s zero-Covid policy had given the CSI 300 a boost in the previous few days. He had previously posted almost nothing but losses for several weeks.
At the same time, the Hang Seng index of the Hong Kong Special Administrative Region fell by 2.57 percent to 15,420.95 points. In Australia, the S&P ASX 200 ended trading down 1.84 percent at 6857.88 points.
On Wednesday evening, the interest rate signals from the US Federal Reserve caused strong fluctuations on the US stock exchanges, but also on the bond and currency markets. Ultimately, Wall Street and the Nasdaq exchanges gave way noticeably.
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As expected, the Fed raised interest rates by 0.75 percentage points to curb very high inflation. Following the rate hike, however, US Federal Reserve President Jerome Powell signaled that the key rate hike at the next meeting in December is likely to be less steep, but also made it clear that there was still no end in sight to the rate hikes. The statements were interpreted by the market as an indication that interest rates in the USA will rise more sharply in the coming year than originally expected.