Asian Shares Mostly Fall, Gold Jumps After Fed Keeps Rates Unchanged

Investors adopt a wait-and-see approach following the Federal Reserve's decision to hold interest rates steady.

Jan. 28, 2026 at 10:47pm

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Asian shares mostly fell on Thursday as investors adopted a cautious stance following the Federal Reserve's decision to keep its key interest rate unchanged. Gold prices jumped more than 4%, trading at $5,520 per ounce, while the U.S. dollar weakened against the Japanese yen. The reaction to the Fed's decision was muted, with the S&P 500 losing less than one point and the Nasdaq Composite rising 0.2%. Earnings season is underway, with major Japanese companies like Toyota, Sony, and Nintendo set to report their results next week.

Why it matters

The Federal Reserve's decision to hold interest rates steady has implications for the global economy and financial markets. Investors are closely watching for any signs of changes in the Fed's monetary policy, as it can impact currency exchange rates, commodity prices, and the overall investment climate.

The details

Asian shares mostly fell as investors adopted a wait-and-see attitude following the Federal Reserve's decision to keep its key interest rate unchanged. Gold prices jumped more than 4%, trading at $5,520 per ounce, while the U.S. dollar weakened against the Japanese yen. The reaction to the Fed's decision was muted, with the S&P 500 losing less than one point and the Nasdaq Composite rising 0.2%. Earnings season is underway, with major Japanese companies like Toyota, Sony, and Nintendo set to report their results next week.

  • The Federal Reserve's decision to keep interest rates unchanged was announced on Wednesday.

The players

Federal Reserve

The central banking system of the United States, responsible for monetary policy and regulating the country's financial system.

Jerome Powell

The current Chair of the Federal Reserve, appointed in 2018.

Toyota Motor Corp.

A major Japanese automaker that is scheduled to report its earnings next week.

Sony Corp.

A Japanese multinational conglomerate that is scheduled to report its earnings next week.

Nintendo Co.

A Japanese video game company that is scheduled to report its earnings next week.

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What they’re saying

“Interest rates look to be 'in a good place' for now.”

— Jerome Powell, Chair of the Federal Reserve

The takeaway

The Federal Reserve's decision to hold interest rates steady has implications for the global economy and financial markets, as investors closely watch for any changes in monetary policy. The muted reaction in the stock market and the jump in gold prices suggest a cautious sentiment among investors, who are waiting to see how the Fed's actions will impact the broader economy.