Stocks in Asia Pacific were set to trade lower on Thursday after the U.S. Federal Reserve indicated on Wednesday that it would keep interest rates near zero through 2022.
Futures pointed to a lower open for Japanese stocks. The Nikkei futures contract in Chicago was at 22,750 while its counterpart in Osaka was at 22,830. That compared against the Nikkei 225’s last close at 23,124.95.
Shares in Australia were also set to decline, with the SPI futures contract at 6,063, as compared to the S&P/ASX 200’s last close at 6,148.40.
Investor reaction to the Fed’s recent economic forecast will be watched on Thursday. The U.S. central bank kept interest rates unchanged on Wednesday and indicated it does not expect to raise them through 2022. The Fed also expects the U.S. economy to contract by 6.5% in 2020 before expanding by 5% in 2021.
Meanwhile, shares of Chinese internet giant NetEase