Asia Pacific stock markets diverged in Thursday trading after the Fed on Wednesday announced that it would begin paring back its balance sheet in October and left the door open for another rise in short-term borrowing costs in 2017.
Shares in Australian gold miners were down on Thursday as the price of the precious metal neared a one-month low after the US central bank said it would start to reverse its crisis-era stimulus programme from next month.
Western Digital’s SanDisk subsidiaries have filed a new request for arbitration against Toshiba with the International Court of Arbitration following the latter’s agreement to sell its flash memory business to a consortium led by US private equity group Bain.
The Federal Reserve will throw its crisis-era stimulus programme into reverse from next month and stick with plans for further rate rises, in a mark of confidence that stagnant inflation is set to bounce back.
Brazil’s president, Michel Temer, will have to use his power-brokering skills once again.
A majority of judges on the country’s supreme court decided on Wednesday to send new charges against him to the lower house of Congress for lawmakers to decide if he should be tried on allegations of graft and obstruction of justice.
Facebook said on Wednesday it was strengthening oversight of its self-serve advertising tools, partly a response to revelations last week about some of the racist phrases that could be used to target users.
The S&P 500 and Dow clocked fresh record highs on Wednesday led by a rally in energy stocks and gains in financials that benefitted as the Federal Reserve signalled it could still lift rates one more time this year.
The markets have ratcheted up their bets for further monetary tightening this year after Fed officials lowered the bar on inflation, a move that is seen as making the case for a third rate rise easier.
In its September statement, the Federal Reserve announced that it would begin to unwind its $4.5tn balance sheet in October and noted that inflation would likely receive a temporary boost from higher gasoline prices in the aftermath of a string of hurricanes that have barreled through the US.