Asian stock open mixed with Fed meeting in focus

2019-09-18 09:24:59 GMT (Economies.com)
Asian stock open mixed with Fed meeting in focus

Asian stocks opened mixed today as the Japanese stocks, New Zealand, Australian stocks and Hong Kong's Hang Seng fell, while the Chinese stocks and the South Korean Kospi rose, amid wide anticipation for the US Fed interest rate decision.

 

The US Fed meeting will unveil its forecasts on growth, inflation and unemployment rates as well as the future of interest rates for the next three years later today, and will be followed by Fed Chairman Jerome Powell will holding a press conference tomorrow after the meeting, to comment on the bank's decisions which has recently been criticized by President Trump, as he wants the interest rates to be cut to zero or below.

 

Ahead of the BOJ meeting in Tokyo on thursday and will be followed by a press conference from the bank's chairman Haruhiko Kuroda, with forecasts that if the US Fed cut interest rates that may put pressure on the BOJ to increase stimulus, which comes after the ECB has cut interest rates by 10 basis points to minus -0.50% and the relaunch of 20 billion euros bond-buying program by November.

 

President Trump also said earlier this week that the US has reached preliminary trade agreements with Japan, ahead of a new round of the US-China trade talks in Washington next Thursday.

 

The Japanese stocks saw a mixed performance today, as Topix fell by 0.40% or 6.50 points to 1,608.08 points, while Nikkei 225 rose by 0.05% or 11.40 points to 22,012.72.

 

The Chinese stocks rose, as the CSI 300 rose by 0.73% or 28.40 points to 3,919.62, and the Shanghai Composite rose by 0.53% or 15.66 points to 2,993.78.

 

Hong Kong's Hang Seng shed 0.01% or 2.72 points to 26,787.52, while South Korea's Kospi rose by 0.54% or 11.13 points to 2,073.46.

 

To New Zealand's NZX 50, which fell by 0.75% or 81.04 points to 10,786.99, and the Australian S&P/ASX 200 fell by 0.21% or 14.25 point to 6,681.00.

 
 
 
  Symbol Last Change Chg.%
1.1168
0.0002
0.0210%
1.2982
0.0030
0.2347%
17.739
0.194
1.105%
53.320
-0.388
0.722%
58.84
-0.58
0.98%
1492.300
2.145
0.144%
 
 
US
 
Europe
 
Asia