Asian markets settled mostly lower ahead of the Fed meeting

asian markets mixed

Most of the stocks in Asia were on the negative territory on Tuesday’s close ahead of the anticipated meeting of the Federal Market Open Committee (FOMC). Investors are also shifting their attention to the dollar’s behavior this week.

There are possibilities that the sentiment of the market will still be subdued as investors wait risk events. Senior trader in OANDA Stephen Innes told CNBC that the awaited events are the results of the FOMC meeting and the gross domestic product (GDP) for the second quarter, which is set to be released later this week. He added that the central bank is widely forecasted to sound less-hawkish.

On Asian indices, the Japanese benchmark Nikkei 225 index traded close to the flat line as it lost as much as 20.47 points or 0.1 percent to settle at 19,955.2, this is driven by the gains of yen versus the dollar on the previous session. Across the Korean Strait, the Kospi index dropped about 11.63 points or 0.47 percent to finish at 2,439.9.

Markets on the mainland were also on the red zone. The Shenzhen Composite dropped 6.0730 points or 0.327 percent to close at 1,848.5922 and the Shanghai Composite declined 6.8332 points or 0.21 percent to end at 3,243.7657. The Hang Seng Index in Hong Kong slipped by 0.1 percent.

However, the Australian benchmark ASX 200 added more than 38.529 points or 0.68 percent to settle at 5,726.6, with its energy sub-indexes and telecommunications services as the best performers. Their health care sub-indexes rose about 1.5 percent and industrials advanced as well by 0.98 percent.

 

FAQs

Leave a Reply

Your email address will not be published. Required fields are marked *