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Foreign Markets - Detailed News

Asian shares end lower, Nikkei down 0.45%
08-Oct-25   15:54 Hrs IST
Asian stocks ended mostly lower on Wednesday after Wall Street's main indexes pulled back from record highs overnight on the back of mixed messages from Federal Reserve officials on the pace on interest-rate cuts and concerns about a bubble forming around artificial intelligence.

Federal Reserve Governor Stephen Miran said tariffs are not driving inflation and the Fed can keep easing policy. Separately, Fed Bank of Minneapolis President Neel Kashkari warned that drastic rate cuts would risk stoking prices.

Meanwhile, the Trump administration has warned of no guaranteed back pay for federal workers as the government shutdown headed into its eighth day.

Japanese markets ended lower even as dovish policy expectations continued to weigh on the yen.

The yen extended its losses to a fifth day, reaching its lowest level against the dollar since February as the release of soft wage data dampened market expectations for further interest rate hikes from the Bank of Japan (BoJ).

The Nikkei average dropped 0.45 percent to 47,734.99, snapping a four-day winning run. The broader Topix index notched a record high, rising 0.24 percent to 3,235.66 on renewed hopes for government stimulus.

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