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WTF Dailies September 25, 2025

Asian shares were subdued on Thursday tracking overnight weakness on Wall Street, as investors stayed cautious ahead of a series of U.S. economic reports that could shape the Federal Reserve’s policy outlook.

Sage Kakkat

24 Sep 2025 — 4 min read

US stock futures held steady as uncertainty around Federal Reserve policy rattled investors even as the tech industry continued to make big moves on AI.
Asian shares were subdued on Thursday tracking overnight weakness on Wall Street, as investors stayed cautious ahead of a series of U.S. economic reports that could shape the Federal Reserve’s policy outlook.
Wall Street closed lower for a second straight session on Wednesday, with losses in technology stocks leading the decline. The retreat reflected renewed concern over stretched valuations and uncertainty about the Federal Reserve’s next moves.
U.S. stock index futures edged higher in Asian trading on Thursday.
Investors are now focused on a heavy U.S. data calendar. Weekly jobless claims and a final reading of second-quarter GDP are due later on Thursday, followed by the Fed’s preferred inflation measure, the personal consumption expenditures (PCE) price index, on Friday.
The readings are expected to provide clearer signals on whether the central bank will move ahead with further rate cuts this year.
Wall Street’s retreat cast a shadow over Asian equities on Thursday, where markets saw choppy moves.
Japan’s Nikkei 225 edged 0.1% higher while the broader TOPIX index gained 0.4%.
China’s blue chip Shanghai Shenzhen CSI 300 index rose 0.8%, while the Shanghai Composite traded marginally higher. Hong Kong’s Hang Seng index ticked up 0.3%.
Australian S&P/ASX 200 ticked up 0.1%, while Singapore’s Straits Times Index fell 0.3%.
South Korea’s KOSPI lost 0.1%, while futures for India’s Nifty 50 traded largely unchanged before market open
In Japan, attention turned to the release of the Bank of Japan’s July policy meeting minutes.
The minutes showed that some policymakers argued for considering rate hikes in the future, highlighting divisions within the board.
At its latest meeting, the BOJ kept short-term rates at 0.5% but signaled it would scale back purchases of exchange-traded funds and real estate investment trusts. Two members of the board dissented, calling for a hike to 0.75%.
The minutes reinforced expectations that the BOJ is slowly tilting toward a more hawkish stance, even as global growth risks remain a concern.

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