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Market Review

US:

Stocks closed at record highs on Thursday, with smaller equities seeing the biggest boost, as the Federal Reserve signaled this week it was embarking on an easing rate path, reinvigorating investors and raising hopes for a ratcheting up of economic growth.

Asia:

Asian stocks were on the cusp of an intraday record high after US and global equity benchmarks hit fresh peaks, as the Federal Reserve’s interest-rate cut bolstered sentiment.

India:

The benchmark equity indices closed in the green for the third straight session on Thursday after the US Federal Reserve cut its key interest rate by 25 basis points and signalled the possibility of two additional rate reductions this year. Market is expected to open on a negative note and likely to witness range bound move during the day.

Global:

Japan’s core consumer prices rose 2.7% in the year to August, staying above the central bank’s 2% goal but marking the slowest pace in nine months in a sign households are getting some respite from rising living costs.The data will be among factors the Bank of Japan (BOJ) will scrutinise at its twoday meeting that ends on Friday, when the board is widely expected to keep interest rates steady at 0.5%.

Foreign holdings of U.S. Treasuries rose to an all-time peak in July, hitting record highs for a third straight month, led by gains in holdings from Japan and the United Kingdom.Holdings of U.S. Treasuries surged to $9.159 trn in July, up from $9.126 trn the previous month. Compared with a year earlier, Treasuries owned by foreigners were up nearly 9%.China’s holdings of Treasuries, on the other hand, dropped to $730.7 bn, its lowest since December 2008 when the world’s second-largest economy held $727.4 bn.

Commodities:

Oil prices experienced minimal movement on Friday following a previous decline, influenced by the U.S. Federal Reserve's interest rate cut and concerns about fuel demand in the United States. Rising U.S. distillate stockpiles and a strengthening dollar further weighed on prices, while economic data indicated a softening U.S. labor market.

Gold prices remained stable as investors looked for clues about future US interest rates. The Federal Reserve recently cut rates, hinting at further easing but also cautioning about inflation. Lower rates typically benefit gold

Currency:

The U.S. dollar held largely steady in early Asian trading on Friday as investors looked to fresh catalysts after the Federal Reserve's meeting, with the greenback inching higher against the yen ahead of a policy decision from the Bank of Japan

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