The South Korean Central Bank (SKCB), as expected in a Reuters poll, kept its benchmark policy rate unchanged at 3.5 percent. According to the survey results, SKCB is expected to cut interest rates by 50 basis points in the fourth quarter.
Singapore’s final first-quarter gross domestic product figures remained unchanged at 2.7 percent from the preliminary estimate.
Investors also assessed preliminary trade activity data from Australia and Japan. Japan’s Nikkei 225 climbed 0.6 percent, while the broad-based TOPIX gained 0.2 percent.
In contrast, South Korea’s KOSPI fell 0.33 percent, while the small-cap KOSDAQ reversed losses after the BOK’s decision, rising 0.22 percent.
Australia’s S&P/ASX 200 lost about 0.8 percent. Hong Kong’s Hang Seng index fell 1.54 percent, while the CSI 300 index dropped 0.38 percent. Overnight in the U.S., the Dow Jones Industrial Average experienced its worst day in May, falling 0.51 percent, while the S&P 500 lost 0.27 percent and the Nasdaq Composite declined 0.18 percent.
Minutes from the Federal Open Market Committee’s policy meeting on April 30-May 1, released on Wednesday, showed policymakers were concerned about the timing of policy easing.
However, a notable development in the U.S. was Nvidia’s (NVDA) shares surpassing the $1,000 mark for the first time yesterday after reporting fiscal first-quarter results that exceeded analyst estimates.
Hibya News Agency
Source: investing.com
