Sydney Harbour and the skyline of the central business district (CBD) in Sydney, Australia, on Tuesday, April 29, 2025.
Bloomberg | Bloomberg | Getty Images
Hong Kong’s Hang Seng index led declines in Asia-Pacific markets Thursday, falling over 2%, as investors weighed the U.S. Federal Reserve’s decision to keep interest rates steady, while the ongoing conflict between Israel and Iran continues to dent sentiment.
Meanwhile, mainland China’s CSI 300 was down 0.78%.
Japan’s benchmark Nikkei 225 lost 0.8%, while the Topix declined 0.52%. South Korea’s Kospi fell 0.15%.
Australia’s S&P/ASX 200 was flat.
U.S. President Donald Trump is convening his national security advisors in the White House Situation Room for the second time in two days, as he weighs a potential military strike on Iran amid its conflict with Israel. The meeting started shortly before 5 p.m. ET on Wednesday, a White House official told NBC News.
The U.S. Federal Reserve expectedly held interest rates steady on Wednesday, leaving its benchmark rate unchanged at 4.25%-4.5%, where it has stood since December. Fed Chair Jerome Powell signaled that the Fed committee will wait to see the impact of President Donald Trump’s tariffs on inflation before considering any adjustments to monetary policies.
However, the Fed still pointed to two rate cuts later this year.
Overnight on Wall Street, the three major averages ended the trading day mixed. The 30-stock Dow lost 44.14 points, or 0.10%, and ended at 42,171.66. The S&P 500 slipped 0.03% to close at 5,980.87, and the Nasdaq Composite inched up 0.13% to settle at 19,546.27.
— CNBC’s Sean Conlon and Lisa Kailai Han contributed to this report.
