Asian stocks stutters after rout, Fed leaves markets guessing on rates

SINGAPORE: Asian stocks struggled for direction in choppy trading on Thursday (Jul 30) after a week of market turbulence sparked by artificial intelligence jitters, as a divided Federal Reserve stood pat on rates and left bond markets uncertain about the next move.Brent futures slipped below US$90 per barrel, after jumping over 7 per cent a day earlier as fighting in the Middle East escalated, although data showed tankers continued to make their way out of the region despite the continued strikes.The dollar was on the defensive after the US central bank held rates steady, although the split decision left investors confused on whether the Fed will see through rate hikes to combat inflation. Yields on longer-dated US Treasuries rose to 19-year highs.Asian chipmakers have been at the centre o