Asian markets gain after Fed holds interest rates steady

Asian shares were mostly higher on Thursday after Wall Street advanced, following the US Federal Reserve’s decision to leave its policy rate at 3.75% to 4%, Mettis Global reported. Japan’s Nikkei 225 added 0.42% and Australia’s S&P/ASX 200 rose 0.46%, while South Korea’s Kospi lost 2.14% and China’s CSI 300 fell 1.20%. Hong Kong’s Hang Seng was little changed.

Investors were also weighing company earnings and risks linked to the Middle East. Microsoft gained 3% in after-hours trade after reporting stronger-than-expected quarterly revenue and earnings, while Alphabet fell 9% after missing expectations and reporting negative free cash flow of $9.07 billion. The Fed said inflation remained elevated and that it would review further economic data before making another policy decision; US inflation, GDP and jobless claims data were due on Thursday.