Asian shares traded mixed on Thursday, while the dollar was little changed against yen and euro after the U.S. Federal Reserve maintained status quo while giving no direction on when it might raise rates.
Japan's Nikkei share average was down 0.4 percent while South Korea's Kospi index gained 0.4 percent. China markets remain closed for the final day of Lunar New Year holidays that started last Friday.
U.S. stocks eked out small gains overnight, to cap a four-day losing streak after Apple Inc.'s best day since July boosted technology shares. The maker of the popular iPhone smartphones rallied 6.1 percent after earnings topped estimates.
Fed Stands Pat On Rates
Both the dollar and U.S. Treasuries were little changed after the Federal Reserve's latest policy meet did little to alter market views on the timing for further interest rate hikes.
The Fed acknowledged rising confidence among consumers and business and reiterated their intention to lift rates gradually as the labor market tightens. The central bank left its options open before Friday's jobs report delivers the latest reading on labour-market strength and as they grapple with the uncertainty created by a new presidential administration. Members differ over assumptions regarding the extent to which policies proposed by President Donald Trump might boost inflation.
Investors see a roughly one-in-three chance the Fed will raise rates by a quarter percentage point at their next meeting, on March 14-15, with the odds of an increase rising to around 70 percent by their June meeting, according to pricing in federal funds futures markets.
Oil Near $53 A Barrel
U.S. crude supplies rose to the highest level since August, according to the Energy Information Administration, and more than double the 3 million-barrel forecast by analysts surveyed by Bloomberg.
The larger-than expected build exacerbated concerns that efforts to cut production by the OPEC and other producers may not be sufficient.
West Texas Intermediate for March delivery fell as much as 36 cents to $53.52 a barrel in New York.
Weak Start?
The SGX Nifty Index dropped 0.2 percent to 8,718 as of 07:10 a.m., indicating a weak start to the Indian markets.
The NSE Nifty Index jumped 1.8 percent to close at 8,716 as investors cheered fiscal prudence shown by the government in its Union Budget 2017.
Shares of Tata Motors and Mahindra & Mahindra will be in focus today. Tata Motors' passenger and commercial vehicle sales fell 2 percent while Mahindra & Mahindra sales dropped 10 percent in January.
Companies such as Godrej Properties, Marico, Future Enterprises and Godfrey Phillips India are scheduled to post their quarterly results later in the day.
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