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Asian shares decline on guarded Fed, yen rises after BOJ holds fire


Added 09-19-19 03:03:02am EST - “Asian shares extended declines on Thursday after the U.S. Federal Reserve signal...” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “Asian shares decline on guarded Fed, yen rises after BOJ holds fire”. Below is an excerpt from the article.

TOKYO (Reuters) - Asian shares extended declines on Thursday after the U.S. Federal Reserve signaled a higher bar to further easings, while the Bank of Japan also held off from offering more stimulus as some had hoped.

The Fed cut rates for the second time this year as global growth risks intensified, forcing policymakers around the world to step up efforts to stimulate their economies. Earlier in the day, the BOJ kept policy steady as expected, though there were some expectations the Japanese central bank would ramp up its already massive stimulus.

Asian equities were already on the back foot after Fed Chairman Jerome Powell took a more guarded approach to any further reductions in borrowing costs.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.6%. Hong Kong shares shed 1.36%, but Japan’s Nikkei rose 0.43%.

The pan-region Euro Stoxx 50 futures were down 0.06%, German DAX futures off 0.1%, and FTSE futures lost 0.27%.

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