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Asia Stocks Fluctuate as Traders Await Powell's Jackson Hole Speech
22 Aug
Summary
- Stocks in Asia edge higher as traders await Fed Chair Powell's speech
- Traders look for clues on likelihood of September rate cut
- U.S. dollar index steady after four days of gains
On August 22nd, 2025, stocks in Asia edged higher in a volatile trading session as investors anxiously awaited a speech from Federal Reserve Chair Jerome Powell at the annual Jackson Hole symposium. Financial markets are closely watching for Powell to provide insights into the likelihood of a September interest rate cut, given recent signs of job market weakness and the near-term policy outlook.
"Markets are on edge ahead of the all-important Jackson Hole speech," said Carol Kong, an economist and currency strategist at Commonwealth Bank of Australia in Sydney. S&P 500 futures added 0.1% after a five-day losing streak on Wall Street, which had put the U.S. equity benchmark on track for its biggest one-week decline this month.
In the Asia-Pacific region, MSCI's broadest index of shares outside Japan rose 0.1%, extending its gains to 1.5% so far in August. South Korea's Kospi index led the charge, climbing 1.1%, while the Nikkei 225 in Japan traded flat. The U.S. dollar index, which tracks the greenback against a basket of major currencies, held steady at 98.60 after four consecutive days of gains, as traders assessed mixed signals from recent Fed speeches.
