Japanese stocks edge higher amid mixed session for Asian equities
Asian stocks rallied initially as investors cheered on the news of the Fed cutting rates overnight but gains were limited and faded towards the tail-end of the session.
The BOJ staying on hold and the yen gaining in the aftermath also put some downside pressure on exporter stocks in Tokyo. Meanwhile, the Hang Seng is down by 1.1% while the Shanghai Composite is flat on the session currently.
Overall, this is suggestive of a slightly more defensive risk mood as we begin European trading with US futures down by 0.3% and Treasury yields also slightly lower to start the day.
