Asian equity markets rose on Thursday after the US Federal Reserve decided to pause its aggressive tightening campaign, though investors remain cautious as the Fed hinted at further interest rate hikes this year. Meanwhile, China’s central bank lowered its one-year medium-term lending facility rate by 10 basis points to 2.65%, the first such cut in ten months. This came just two days after the central bank slashed its seven-day reverse repurchase rate by 10 basis points to 1.9%, as a decelerating economic recovery prompted government support. Investors also assessed a raft of economic reports in the region including Japanese trade, Australian employment and Chinese industrial production data. Shares in Australia, Japan, Hong Kong and mainland China all advanced.
