Asian shares set for mostly weaker open after Fed | Malay Mail

Australian S&P/ASX 200 futures lost 0.22 per cent in early trading. Japan’s Nikkei 225 futures were flat, while Hong Kong’s Hang Seng index futures lost 0.15 per cent. — Reuters pic

Australian S&P/ASX 200 futures lost 0.22 per cent in early trading. Japan’s Nikkei 225 futures were flat, while Hong Kong’s Hang Seng index futures lost 0.15 per cent.The Fed said it would keep interest rates near zero until inflation is on track to “moderately exceed” the central bank’s 2 per cent inflation target “for some time,” with the aim of offsetting years of weak inflation and allowing the economy to add jobs for as long as possible.

The economic recovery is ongoing but the pace is expected to slow, requiring continued support from the Fed and from further government spending, Powell said.“We see a risk that economic activity slows in the absence of more fiscal stimulus,” Joseph Capurso, head of international economics at Commonwealth Bank of Australia, said in a note.

The S&P 500 fell 0.46 per cent and the Nasdaq Composite dropped 1.25 per cent, with technology shares leading the decline.Longer-term US Treasury yields and gold prices edged higher after the Fed.

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