(Bloomberg) — Stocks in Asia were mixed after US equities touched fresh peaks ahead of the Federal Reserve’s decision, with eyes on the future pace of rate cuts. The yen extended its decline.
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Chinese equities gained as the country’s banks kept their benchmark lending rates unchanged. Focus is on a slew of key earnings including from Tencent Holdings Ltd. Australian shares slipped while Japanese markets were closed for a holiday.
European futures fell alongside US contracts, paring Tuesday gains on Wall Street when the “Magnificent Seven” cohort of tech megacaps staged a rebound. Nvidia Corp.’s new chips helped support the rally, while in Asia, reports that the company was looking to buy Samsung Electronics Co.’s memory chips sent the South Korean market higher.
Gains for Chinese equities reflected “a base forming,” around the beaten-down market on signs of government support this year, Audrey…
