Asian shares fell after Wall Street traders refrained from making big bets, with US equity markets set to close ahead of Friday’s jobs report. Stocks dropped in Tokyo and Sydney, with futures for Hong Kong also declining. US contracts slipped, after a range-bound session for the S&P 500 Wednesday. The tech-heavy Nasdaq 100 ended little changed.
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Federal Reserve officials decided to slow the pace of rate-cutting in December due to elevated inflation risks, citing higher inflation readings and continued strength in spending. The Fed cut its benchmark lending rate by a quarter-point to a range of 4.25%-4.5%. Officials expect the US jobs market to remain solid, but are cautious due to upside risks to inflation.
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India's monthly demat account additions in December grew at the slowest pace in 10 months as the recent declines in the stock market and regulatory restrictions on equity derivatives discouraged investors and traders from opening new accounts. The total number of demat accounts rose by 1.65% to 185 mn in December from 182 mn in November - the slowest growth in percentage terms since February 2024.
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