Melbourne city center skyline alongside the Yarra River.
Photo loop | Global Photo Collection | Getty Images
The Nikkei hit a new all-time high as Asian markets rose after the Federal Reserve maintained its forecast for three interest rate cuts while keeping the federal funds rate at 5.25%-5.5%.
Expectations for three cuts came from the Fed's “dot chart,” a closely watched matrix of anonymous forecasts from the 19 officials who make up the Federal Open Market Committee. However, the chart provides no indication of the timing of the moves.
Updated dot plots indicated three reductions in 2025 as well — one fewer than the last time the grid was updated in December.
Japan Nikki 225 The Topix rose 1.57%, hitting a new all-time high, while the Topix also hit a new record and rose 1.41%.
February country trade data and March flash PMI data from au Jibun Bank are due later today.
South Korea Cosby Kosdaq stock rose 1.52% to its highest level since April 2022, while small cap Kosdaq rose 1.48%.
in Australia, Standard & Poor's/ASX 200 The day started up 0.61%, after preliminary data from Judo Bank showed that business activity in the country expanded at a faster pace in March compared to the previous month.
The country's composite PMI stood at 52.4, up from 52.1 in February.
Hong Kong Hang Seng futures were at 16,716, indicating a stronger open compared to the HSI's close of 16,543.07.
Overnight in the US, all three major indexes rose, with the Dow Jones Industrial Average and S&P 500 closing at record levels.
the Dow Jones Industrial Average It rose by 1.03% to close at 39512.13, while the index rose Standard & Poor's 500 The stock gained 0.89% to close at 5,224.62. It rises above 5,200 for the first time.
the Nasdaq Composite It jumped 1.25%, supported by large technology stocks.
CNBC's Sarah Main and Samantha Sobin contributed to this report
