Asian stocks in retreat amid Fed decision

ASIAN markets retreated yesterday following a tepid day on Wall Street as investors bided their time ahead of a highly anticipated Federal Reserve policy announcement later in the day.

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Earnings from tech giants Oracle and Broadcom this week are also in view amid lingering worries about an Al-fuelled bubble that caused some panic on trading floors last month.

With US central bankers expected to cut interest rates for the third straight session yesterday, the main focus is on their post-meeting statement, boss Jerome Powell's news conference and the "dot plot" forecast for 2026 policy.

After November's tech-led swoon, markets have enjoyed a healthy run in recent weeks as weak jobs figures reinforced expectations for another step lower in borrowing costs.

But that has cooled heading into the Fed gathering amid speculation it will announce a “hawkish cut” that plays down the chances of a fourth successive reduction.