Stocks in Asia were set to slip at the open despite an overnight surge on Wall Street, with the Dow Jones Industrial Average posting a gain of more than 200 points.
div > div.group > p:first-child"> Futures pointed to a lower open for the Nikkei 225 in Japan. The Nikkei futures contract in Chicago was at 21,440, as compared to the index's last close at 21,608.92. The Japanese markets were closed on Thursday for a holiday.
The moves upward in the major stock indexes on Wall Street were driven by gains in the technology sector and the latest policy statement from the U.S. Federal Reserve. "Markets have continued to digest the implications of a dovish Fed that looks set to leave the Fed Funds rate unchanged this year and potentially next. Tech shares have led the gains in equities, although financials have continued to struggle," Rodrigo Catril, a senior foreign exchange strategist at National Australia Bank, said in a morning note.
The U.S. central bank did, however, lower its economic growth forecast for 2019, raising concerns over a possible slowdown in the economy.
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