Hongkong Asian stock markets got off to a broadly positive start ahead of Thursday’s annual Federal Reserve Board meeting in Jackson Hole. Market traders are anxiously awaiting indications of how severe future rate hikes the Fed might turn out to be. Investors are now expecting the key interest rate to peak at 3.80 percent in March 2023, up from 3.62 percent two weeks ago, said Tapas Strickland, economics director at NAB. “Market action is at least consistent with the Fed’s aggressive tone over the past few weeks.”
The Nikkei index, which comprises 225 values, was 0.5 percent higher at 28,464 points. The broader Topix index rose 0.4 percent to 1,975 points. The Shanghai Stock Exchange was up 0.2 percent. The index of major companies in Shanghai and Shenzhen gained 0.1 percent. Trading on the Hong Kong stock exchange was suspended on Thursday morning due to severe tropical storm Ma-on.
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