• Asian equities slipped after Federal Reserve chair Jerome Powell downplayed the prospect of further interest-rate hikes. The yen resumed losses after a sudden jolt higher that hinted at official intervention.
• The Japanese currency fell as much as 1% against the dollar in early Thursday trading, after a sudden surge late Wednesday in New York sent the currency more than 3% higher from its low for the day.
• Equity benchmarks for Japan and South Korea fell while Australian stocks were little changed after the S&P 500 closed 0.3% lower Wednesday. Futures contracts for US equities advanced in Asian trading with Hong Kong markets set to return after a holiday, while those in mainland China remain closed.
• The Fed downplayed the potential for imminent rate hikes, offering a salve for bond markets, and said it will shrink its balance sheet at a slower pace to ease strains in money markets.