Asian stock markets are trading mostly lower on Thursday, despite the broadly positive cues from global markets overnight, as traders are a bit cautious after revised data showed US job growth was weaker than previously reported in the twelve months ended March 2024, raising some concerns about growth. However, there are expectations the US Fed will cut interest rate next month. Asian Markets closed mixed on Wednesday.
The US Fed also released the minutes of its latest monetary policy meeting, which seemingly provided additional support for expectations of an interest rate cut in September.
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