Global markets advance after Fed decision

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Global markets advanced but didn’t price in the euphoric reaction to Federal Reserve Chair Jerome Powell’s press conference that Wall Street did. In Asia, the Nikkei 225 NIK, +0.36% rose 0.4% and the Kospi Composite added 0.8%, while the Hang Seng HSI, -0.23% slipped 0.1% in late trade after the Hong Kong Monetary Authority matched the Fed’s 75 basis point hike. The Euro Stoxx 50 SX5E, -0.15% rose 0.5% in early trade, with automakers Stellantis STLA, +3.20% and Volkswagen VOW3, +2.52% each gaining after their latest results, while Airbus AIR, -5.60% fell 5% after cutting production guidance.

This article was originally published by Marketwatch.com. Read the original article here.

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