Stock Market Today: Asian Markets Forge Higher After Fed's First Rate Cut In Over 4 Years

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stock market today asian markets forge higher after feds first rate cut in over 4 years

Asian markets forged higher on Thursday after the Federal Reserve kicked off its efforts to prevent a recession in the U.S. with a bigger-than-usual cut to interest rates.

In Tokyo, the Nikkei 225 index jumped 2.5% to 37,284.43. Hong Kong's Hang Seng gained 1% to 17,840.93.

The Shanghai Composite index climbed 0.8% to 2,738.19, while Taiwan's Taiex was up 1%.

South Korea's index was an outlier, losing 0.3% to 2,566.65.

The Bank of Japan and the Bank of England are also holding monetary policy meetings this week. Neither central bank is expected to move on rates, though the language of what the officials say could be an indicator of later moves and still influence markets.