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Australia Stocks Set for Muted Start After U.S. Fed Hikes Interest Rate as Expected

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The U.S. Federal Reserve on Wednesday increased its benchmark interest rate by half a percentage point, in line with market expectations.

Mainland Chinese stocks are set to return to trade following days of holidays. Investors will watch for market reaction after data released over the weekend showed Chinese factory activity contracted in April as Covid lockdowns hit industrial production.

SINGAPORE — Shares in Australia looked set for a muted start on Thursday following the U.S. Federal Reserve's widely expected decision overnight toFutures pointed to a little changed open for Australian stocks. The SPI futures contract sat at 7,303, against theMainland Chinese stocks are set to return to trade following days of holidays.

 

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