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- Stock markets rally after jumbo US rate cut
- Gabon's ousted leader Bongo says renouncing politics for good
- Lebanon device blasts: what we know about deadly attacks
- Equity markets rally after jumbo US rate cut
- Late Harrods owner Al-Fayed accused of rape: BBC
- Hong Kong man sentenced 14 months for wearing 'seditious' T-shirt
- Lebanon's Hezbollah in disarray after second wave of deadly blasts
- Equity markets, yen rally after jumbo US rate cut
- Meta and Spotify blast EU decisions on AI
- Hasan takes three as Bangladesh rattle India in first Test
- Two killed during police operation in New Caledonia
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- Sri Lanka to vote in first poll since economic collapse
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- Boeing to start large-scale furloughs with Seattle strike talks stalled
- Japan walkie-talkie maker says investigating after Lebanon blasts
- Slipper to become most-capped Wallaby in All Blacks clash
- Tokyo surges on weak yen as Asian traders cheer big US rate cut
- Vast France building project sunk by sea level rise fears
- UK campaigners in green energy standoff reject 'nimby' label
- Rainbow warriors: Three things to watch at cycling world championships
- Lebanon's Hezbollah in disarray after second wave of device blasts
- China's 'full-time dads' challenge patriarchal norms
- What we know about the fire 'pandemic' plaguing Brazil
- X says Brazil service restoration 'inadvertent' and 'temporary'
- Amazon drought leaves Colombian border town high and dry
- Some Cubans depend on sugar water as food shortages bite
- Saudi crown prince says no Israel ties without Palestinian state
- Canada to further cut international student, foreign worker permits
- YouTube launches new TV-focused tools for creators
- White Sox heading for worst season in MLB history
- China the top challenge in US history: senior diplomat
- Hong Kong democracy tycoon's son warns time running out
- New migraine drugs no better than cheap painkillers: big study
- Sean 'Diddy' Combs again denied bail in sex trafficking case
- Brewers clinch division title as MLB playoff race heats up
- Man City blunted by 'giant' Inter in Champions League stalemate
- US stocks dip despite larger Fed interest rate cut
- Man City held by Inter as PSG pinch win in Champions League
- All Blacks recall Beauden Barrett for Australia Test
- Fears of all-out war as new Lebanon device blasts kill 20, wound 450
- Spurs late show saves Postecoglou blushes at Coventry
- PSG snatch late goal to beat Champions League debutants Girona
- Gittens' late double gives Dortmund Champions League win at Brugge
- Man City blunted by Inter in Champions League stalemate
Asian markets fluctuate on uncertainty over Fed rate plan
Asian markets swung between gains and losses Wednesday as traders tried to ascertain how big an expected Federal Reserve interest rate cut would be later in the day, while the dollar held gains against the yen after forecast-beating US data.
While the US central bank is widely expected to slash borrowing costs for the first time since the start of the pandemic, the big question is on whether officials will go for a bumper move before a series of smaller ones into the new year.
The prospect of easier financial conditions has helped push markets higher this year, with several major indexes hitting multiple records, but observers warned that with prices elevated and a period of cuts baked in, equities could be in for a period of volatility.
Wall Street had a tepid day, with many investors keeping their powder dry until the Fed's decision and boss Jerome Powell's post-meeting statement later Wednesday.
Market-watchers have said the Fed has a tough balancing act, warning that a big cut could signal the bank is worried about the economy, while a smaller one might suggest it is behind the curve on easing policy.
"Our economists have made the case for a 25-basis-point cut, noting that while the labour market evolution could readily support a 50 basis point move to kick off the long-awaited cutting cycle... officials have not made that case, and the data is not emphatic enough to force their hand," said National Australia Bank's Rodrigo Catril.
"Yet media reports from well connected journalists over the weekend have made the point that a discussion for a 50-point cut was very much alive."
He said traders now saw a 70 percent chance of a 50-point cut, adding that "when pricing expectations are this high, it is very rare for the (policy board) to disappoint".
Still, Asian markets fluctuated.
Tokyo rose as a weaker yen helped exporters. The Nikkei 225 had fallen more than one percent the previous day as the currency sat around highs not seen since summer 2023.
Shanghai rose as investors returned from a four-day weekend, while Singapore was also up. Sydney, Wellington and Taipei fell, with Manila flat.
Hong Kong and Seoul were closed for holidays.
The yen's drop came after data from the US Commerce Department reported that consumer spending cooled in August, but not as much as expected, suggesting the world's top economy remained in good health.
The reading also helped temper lingering worries that the country was in danger of slipping into recession, which had been stoked in the past two months by big misses on jobs creation.
After the Fed's day in the spotlight, focus will turn to the Bank of Japan as it prepares for its own policy announcement Friday, when it is widely expected to stand pat, having hiked twice this year -- the first in 17 years.
- Key figures around 0210 GMT -
Tokyo - Nikkei 225: UP 0.7 percent at 36,462.28
Shanghai - Composite: UP 0.1 percent at 2707.64
Hong Kong - Hang Seng Index: Closed for a holiday
Dollar/yen: UP at 141.67 yen from 141.22 yen on Tuesday
Euro/dollar: UP at $1.1130 from $1.1116
Pound/dollar: UP at $1.3170 from $1.3162
Euro/pound: UP at 84.52 pence from 84.46 pence
West Texas Intermediate: DOWN 0.3 percent at $70.96 per barrel
Brent North Sea Crude: DOWN 0.2 percent at $73.52 per barrel
New York - Dow: FLAT at 41,606.18 (close)
London - FTSE 100: UP 0.4 percent at 8,309.86 (close)
Y.Bouchard--BTB