On Thursday, during the Asian session, stocks and indices rose after the U.S. Federal Reserve alleviated concerns about a possible interest rate hike.

The Federal Reserve decided to maintain current interest rates. Chairman Jerome Powell acknowledged the elevated level of inflation and expressed doubts about the progress in reducing it. However, Powell did not entertain growing speculations about the potential need to raise interest rates.

According to Powell's comments, traders understood that the likelihood of a rate hike was extremely low, as it largely depends on available data.

The Japanese yen experienced significant volatility due to another supposed intervention by Japan. Immediately following Powell's remarks, which suggested that the Fed might need to maintain higher rates, the yen strengthened sharply against the dollar. This was the second unexpected surge in the Japanese currency this week, leading market participants to speculate that it was the result of governmental intervention as buyers of the yen.

Initially, the yen was priced at 153 to the dollar, then fell to around 156 in the Asian region.

The MSCI broadest index of Asia-Pacific shares outside Japan rose by 0.6%, largely driven by a notable 2% increase in Hong Kong. The Japanese Nikkei index remained unchanged.