Asian equities on the negative territory after a released glance on Fed’s FOMC meeting

Asian equities

Equities in Asia fell at Thursday’s opening bell, subsequently when the U.S. Federal Reserve’s March Federal Open Market Committee (FOMC) minutes was flashed to the public, however people perceived it as non-dovish.

Japanese benchmark Nikkei 225 was down by 0.81 percent in previous open, South Korea’s Kospi declined by 0.58 percent, and the Aussie ASX 200 dropped by 0.32 percent due to its financial and energy sector declining.

In Japan, Toshiba allegedly dismissed its U.S. Nuclear subsidiary, the chairman of Westinghouse Electric in particular, due to last week’s bankruptcy. This caused its shares to drop by 1.07 percent.

Meanwhile in Australia, Global Energy Commodity Resources (Glencore) enacted force majeure on its coal cargos when Cyclone Debbie hits Queensland which destroyed a railway pass; this pass links coal mines to ports.

The FOMC last March demonstrated the intention of Federal Reserve officials to unravel the balance sheets of the central bank only if the economic figure extends to slow down. As of now, the Fed’s actions to reduce the balance sheets could have a big influence on global markets, given that it has $4.5 trillion worth of bonds. Janet Yellen, Fed chairperson, implied that this kind of shift would be connected to lifting interest rates.

ADP National Employment Report surpassed market expectations by its data showing that 263,000 jobs were added last March compared to the predicted 185,000. This is also considered their highest since December 2014, given that the labor market in the United States is rigid.

Global investors are also keeping an eye on the conference between Chinese President Xi Jinping and U.S. President Donald Trump in Florida, USA.

In addition, Some Asian markets will be closed for public holidays, this includes Vietnam and Thailand.

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