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EQUITIES: Asian Equities Lower Post Hawkish Fed, Focus Turns To BoJ

EQUITIES
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Global markets slumped today after the Federal Reserve cut rates by 25bps but signaled a slower pace of easing in 2025. The S&P 500 and Nasdaq recorded steep losses of 3% and 3.6%, respectively, with the Fed emphasizing its focus on inflation progress. Asian equities have mirrored the declines early with Japan’s Nikkei 225 down 0.75%, while the TOPIX trades just 0.40% lower, South Korea’s KOSPI is struggling down 1.8% as Samsung continues to struggle, down 2.50%, while Australia’s ASX200 hitting a six-week low, down 2.05%.

  • Foreign investors have again been selling South Korean equities this morning, however not in huge size with just -$112m of outflows so far today, local retail investors have more than made up for the outflows.
  • Currencies have seen some large moved as the USD surges higher, the KRW plunged to a 15-year low, and the AUD slid to its lowest level in 26 months, NZD is down over 2% after GDP data revealed a deeper-than-expected recession, with GDP contracting 1% in Q3.
  • Investors now await the Bank of Japan’s policy decision, with expectations for rates to remain on hold amid heightened market volatility.
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Global markets slumped today after the Federal Reserve cut rates by 25bps but signaled a slower pace of easing in 2025. The S&P 500 and Nasdaq recorded steep losses of 3% and 3.6%, respectively, with the Fed emphasizing its focus on inflation progress. Asian equities have mirrored the declines early with Japan’s Nikkei 225 down 0.75%, while the TOPIX trades just 0.40% lower, South Korea’s KOSPI is struggling down 1.8% as Samsung continues to struggle, down 2.50%, while Australia’s ASX200 hitting a six-week low, down 2.05%.

  • Foreign investors have again been selling South Korean equities this morning, however not in huge size with just -$112m of outflows so far today, local retail investors have more than made up for the outflows.
  • Currencies have seen some large moved as the USD surges higher, the KRW plunged to a 15-year low, and the AUD slid to its lowest level in 26 months, NZD is down over 2% after GDP data revealed a deeper-than-expected recession, with GDP contracting 1% in Q3.
  • Investors now await the Bank of Japan’s policy decision, with expectations for rates to remain on hold amid heightened market volatility.