Asian shares were modestly lower on Thursday, with the US dollar on the defensive as recent data showed a stall in inflation reduction progress despite a resilient US economy. Investors are cautious given the upcoming US Thanksgiving holiday and the potential for future Federal Reserve actions. Sentiment remained fragile amid speculation of a possible trade war due to Trump's policies.
SINGAPORE – Asian shares were subdued on Thursday and the dollar was on the defensive after US data showed progress in slowing inflation had stalled even as the economy remained resilient, raising doubt over the path the Federal Reserve could take next year.
Sentiment remained frail as investors pondered the possibility of a tariff war sparked by US President-elect Donald Trump's policies. While the Fed is still widely expected to deliver a third rate reduction in December, minutes of the Federal Open Market Committee's Nov. 6-7 policy meeting published on Tuesday showed officials appeared divided over how much farther they may need to cut rates.
Traders are pricing in 65% chance of the Fed cutting rates next month and are anticipating 75 basis points of easing by the end of 2025, LSEG data showed. In a surprise move, South Korea's central bank cut benchmark interest rates for a second consecutive meeting on Thursday as the economy stalled and inflation slowed more than policymakers predicted. The won weakened after the decision.
ASIAN SHARES US DOLLAR INFLATION FEDERAL RESERVE TRUMP POLICIES TRADE WAR
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