Overview
- Futures pricing points to a high probability of a June Federal Reserve rate cut with roughly 62 basis points of easing seen for the year as U.S. CPI cooled to about 2.4% year on year.
- Japan’s economy grew about 0.1% annualised in the fourth quarter, well below forecasts, intensifying talk of additional fiscal support under Prime Minister Sanae Takaichi.
- Trading was thin with markets in China, South Korea, Taiwan and the United States closed for holidays, leaving regional moves muted.
- Australian shares opened firmer then wavered as earnings landed, with tech stocks rebounding and JB Hi‑Fi reporting a 7.3% rise in first‑half sales and an 8.1% lift in earnings.
- Treasury Wine Estates posted a A$649.4 million statutory loss and scrapped its interim dividend, while Rio Tinto halted Guinea’s Simandou operations after a fatality, pressuring major miners.