Elsewhere in Asia, China advanced 4.6%, while Hong Kong, considered a proxy for China in the past week because of the holiday in mainland markets, plunged 9.4%, the biggest single-day fall since 2008. South Korea declined 0.6% and Taiwan dropped 0.4%.
Fed’s Jefferson urges patience on rates; Kashkari sees more hikes ahead
Federal Reserve Vice Chair Philip Jefferson stated that he sees no immediate need for further interest rate adjustments. He emphasized that future decisions would depend