Asian Markets React to Fed's Rate Cut

Asian stock markets have rallied, mirroring Wall Street's positive reaction to the Federal Reserve's first interest rate cut in over four years. This decision marks a shift in the Fed's focus towards maintaining job market stability and preventing a recession.

• Japan's Nikkei 225 index surged 2.1% to 37,935.58
• Hong Kong's Hang Seng added 1.1% to 18,206.68
• China's Shanghai Composite fell 0.2% to 2,729.69
• Australia's S&P/ASX 200 rose 0.2% to 8,209.70
• South Korea's Kospi increased 0.8% to 2,600.29

While markets generally responded positively, some critics argue that the Fed's delay in cutting rates may have already negatively impacted the economy. The upcoming U.S. presidential election adds another layer of uncertainty to future economic policies.