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Asian equities were primed for muted moves following declines on Wall Street after the Federal Reserve’s half-point interest rate cut on Wednesday.

Equity futures for Japan rose while those for Australia fell, with moves contained to less than 1%. The S&P 500 initially jumped to an all-time high before retreating to end the session 0.3% lower on Wednesday while the Nasdaq 100 dropped 0.5%. Hong Kong markets will resume trading after a holiday.