MCX Copper down around 1%

COMEX Copper futures held near one-week low as equities saw volatile moves and the US dollar index stayed firm. In Asia, China's main CSI300 index eased 0.43% and stayed in a thin range overall. Hong Kong's benchmark Hang Seng index fell 1.59%. However, Japan?s Nikkei 225 index advanced 1.65% to hit record high above 74K mark. European stocks are very choppy. The US stocks tanked Wednesday as the Federal Reserve decided to hold interest rates steady in its first decision under new Chairman Kevin Warsh, but also pointed to an increasing likelihood of rate hikes later this year. Major indices lost around 1%. COMEX Copper futures eased under $6.50 per pound following this and currently trade at $6.40 per ounce, down 1.30% on the day. MCX Copper futures are also down 1% at Rs 1323.95 per kg.

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