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27 Apr 2016
Asian stocks trade mixed ahead of Fed verdict
The stocks on the Asian bourses remains on the back foot and trade mixed this Wednesday, as traders turn cautious heading towards the key FOMC policy decision. Although its widely expected that the Fed may remain on hold this week, the wordings in the accompanying statement will be closely eyed for fresh hints on the rate hike prospects at its June meeting.
Meanwhile, markets ignored the strong rebound staged by the oil prices in the overnight trades following the release of bullish API weekly inventory report.
Australian stocks buck the trend
The Japanese stocks extend the previous decline as wide-spread cautiousness ahead of the Fed and BOJ policy decisions; keep the demand for the safe-haven JPY underpinned. The Japanese benchmark index, the Nikkei 225 now drops -0.53% to 17,266 points, while USD/JPY trades at 111.20, down -0.12% so far.
The Chinese equities attempt a tepid bounce and trade marginally higher, with the benchmark Shanghai Composite index muted around 2,965 points, the CSI300 index trades marginally higher around to 3,183. Hong Kong’s Hang Seng trades -0.06% to 21,390 levels.
While the Australian indices outperforming their Asian counterparts, on the back of increasing RBA rate cut expectations, especially after the Australian CPI figures surprised markets to the downside. Australia’s ASX 200 index jumps +1% to 5,271.
Meanwhile, markets ignored the strong rebound staged by the oil prices in the overnight trades following the release of bullish API weekly inventory report.
Australian stocks buck the trend
The Japanese stocks extend the previous decline as wide-spread cautiousness ahead of the Fed and BOJ policy decisions; keep the demand for the safe-haven JPY underpinned. The Japanese benchmark index, the Nikkei 225 now drops -0.53% to 17,266 points, while USD/JPY trades at 111.20, down -0.12% so far.
The Chinese equities attempt a tepid bounce and trade marginally higher, with the benchmark Shanghai Composite index muted around 2,965 points, the CSI300 index trades marginally higher around to 3,183. Hong Kong’s Hang Seng trades -0.06% to 21,390 levels.
While the Australian indices outperforming their Asian counterparts, on the back of increasing RBA rate cut expectations, especially after the Australian CPI figures surprised markets to the downside. Australia’s ASX 200 index jumps +1% to 5,271.