Asia Markets: Asian markets edge higher after Fed puts lid on rate hikes

Asian markets ticked higher in early trading Thursday after the U.S. Federal Reserve kept interest rates unchanged and indicated there would be no rate hikes for the rest of the year.

While Fed Chairman Jerome Powell said Wednesday that the U.S. economy was in “a good place,” the announcement was interpreted as a sign of caution toward slowing global growth.

Japan’s Nikkei NIK, +0.20% rose 0.2%, while Hong Kong’s Hang Seng HSI, +0.17% advanced about the same. The Shanghai Composite SHCOMP, +0.61% gained 0.6% and South Korea’s Kospi SEU, -0.11% rose 0.3%. Stocks mostly gained in Taiwan Y9999, +0.36% , Singapore STI, +0.04% and Indonesia JAKIDX, +0.04% , but declined slightly in Australia XJO, -0.44% .

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