This is CNBC’s live blog covering Asia-Pacific markets.
Asia-Pacific markets fell Thursday, as investors weighed the U.S. Federal Reserve’s decision to keep interest rates steady, while the ongoing conflict between Israel and Iran continues to dent sentiment.
Japan’s benchmark Nikkei 225 lost 0.74% while the Topix declined 0.61%.
South Korea’s Kospi fell 0.34% and the small-cap Kosdaq was flat.
Australia’s S&P/ASX 200 was flat.
Hong Kong’s Hang Seng index declined 0.48% and mainland China’s CSI 300 was flat.
Investors are also awaiting Taiwan and Philippines’ central bank decisions later in the day.
U.S. President Donald Trump is convening his national security advisors in the White House Situation Room for the second time in two days, as he weighs a potential military strike on Iran amid its conflict with Israel. The meeting started shortly before 5 p.m. ET on Wednesday, a White House official told NBC News.
The U.S. Federal Reserve expectedly held interest rates steady on Wednesday, leaving its benchmark rate unchanged at 4.25%-4.5%, where it has stood since December. Fed Chair Jerome Powell signaled that the Fed committee will wait to see the impact of President Donald Trump’s tariffs on inflation before considering any adjustments to monetary policies.
However, the Fed still pointed to two rate cuts later this year.
Overnight on Wall Street, the three major averages ended the trading day mixed. The 30-stock Dow lost 44.14 points, or 0.10%, and ended at 42,171.66. The S&P 500 slipped 0.03% to close at 5,980.87, and the Nasdaq Composite inched up 0.13% to settle at 19,546.27.
— CNBC’s Sean Conlon and Lisa Kailai Han contributed to this report.
Australia unemployment rate holds steady at 4.1%
Australia’s unemployment rate came in at 4.1% in May, unchanged from the month before and in line with expectations from economists polled by Reuters.
This is the fifth straight month that the unemployment rate has remained steady at 4.1%.
Back in May, Australia’s central bank estimated that the unemployment rate would increase “a little” this year, putting their forecast at “a bit below 4.5%.”
— Lim Hui Jie
Aberdeen Investments shines spotlight on China, South Korea and Europe equity markets
Aberdeen Investments said it favored China and Europe equity markets for their “strong” policy tools that can offset the negative impact from tariffs, following the U.S. Federal Reserve’s decision to keep policy rates steady.
“China’s equity market is also further supported by a multi-pronged equity market program,” said the asset manager’s Ray Sharma-Ong, head of multi-asset investment solutions, Southeast Asia.
Sharma-Ong also highlighted that South Korea’s equity markets present “attractive opportunities” fueled by growth-oriented reforms and improving corporate governance.
—Lee Ying Shan
Nippon Steel shares rise after completing acquisition of U.S. Steel
Shares of Japan’s Nippon Steel rose 1.33% after it completed its acquisition of U.S. Steel.
U.S. President Donald Trump has insisted for weeks that the companies would form a “partnership” in which U.S. Steel would remain American-owned.
U.S. Steel shares stopped trading at 8:30 a.m. ET on Wednesday after Nippon completed its acquisition, according to a notice from the NYSE.
Trump opposed Nippon’s bid to acquire U.S. Steel in the run-up to the 2024 presidential election but he changed his stance after he took office, ordering a new review of the deal in April. Former President Joe Biden had blocked Nippon’s acquisition in January, citing national security concerns.
—Lee Ying Shan, Spencer Kimball
Fed keeps rates unchanged, sees 2 more rate cuts this year
Kent Nishimura | Bloomberg | Getty Images
Jerome Powell, chair of the Federal Reserve, during a news conference following a Federal Open Market Committee meeting in Washington, D.C., on June 18, 2025.
The Federal Reserve kept interest rates unchanged on Wednesday, as was expected. However, the central bank kept its outlook for two cuts this year as the threat of stagflation has risen.
“Uncertainty about the economic outlook has diminished but remains elevated. The Committee is attentive to the risks to both sides of its dual mandate,” the Fed’s policymaking committee said in a note. The Fed also lowered its GDP outlook and increased its inflation forecast.
— Fred Imbert
Gundlach sees gold hitting $4,000
DoubleLine Capital CEO Jeffrey Gundlach said Wednesday that gold could hit $4,000 soon as institutions step up their buying amid heightened geopolitical uncertainty.
“It’s a clear beneficiary of everything that’s been going on. And it’s the one asset class that’s really doing well this year,” Gundlach said on CNBC’s “Closing Bell.” “I think the demand for gold is for real.”
Spot gold traded around $3,392.08 an ounce Wednesday, while U.S. gold futures rose slightly to $3,412.5.
— Yun Li
Stocks close little changed
The three leading indexes finished little changed on Wednesday.
The Dow Jones Industrial Average dropped 44.14 points, or 0.1%, to settle at 42,171.66. The S&P 500 ticked 0.03% lower to end at 5,980.87, while the Nasdaq Composite rose 0.13%, closing at 19,546.27.
— Sean Conlon