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Asian shares turn lower on guarded Fed, yen rises after BOJ


Added 09-19-19 12:03:02am EST - “Asian shares turned lower on Thursday after the U.S. Federal Reserve cut interes...” - Reuters.com

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

TOKYO (Reuters) - Asian shares turned lower on Thursday after the U.S. Federal Reserve cut interest rates as expected but signaled a higher bar to further policy easings.

Treasury yields rose broadly and the curve flattened as Fed Chairman Jerome Powell took a cautious approach to any further reductions in borrowing costs, while division among central bankers has increased uncertainty over how much further rates might fall.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.36%. Hong Kong shares shed 0.96%, but Japan’s Nikkei rose 1.01%.

The yen rose from a seven-week low versus the dollar and held onto those gains after the Bank of Japan kept policy on hold, as expected, but signaled it could ease next month.

Central banks around the world have been loosening policy to counter the risks of low inflation and recession. Easier monetary policy has generally supported equities.

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