Stocks and bonds rise as Federal Reserve cuts interest rates
Asian stocks are expected to rise following a rally in the US markets after the Federal Reserve cut interest rates by 25 basis points. The S&P 500 and Nasdaq 100 reached new highs, while global stocks also hit a record.
Treasuries saw a significant rally, with the 10-year yield dropping 11 basis points. The Fed's decision and comments from Chair Jerome Powell indicated confidence in the US economy, despite ongoing inflation concerns.
The dollar weakened against major currencies, and investors are now looking to China for potential stimulus measures. In corporate news, Nissan announced it will cut 9,000 jobs and reduce manufacturing capacity after a sharp decline in profits.