TOKYO – Asian equities were lower on Wednesday as world markets cautiously awaited the US central bank’s latest comments on the economic outlook.
Japanese landmark Nikkei 225 NIK,
gave up early earnings and fell 0.2% while Kospi 180721 in South Korea,
to withdraw 1%. S & P / ASX 200 XJO from Australia,
decreased by 0.7%. Hang Seng HSI in Hong Kong,
decreased by 0.2%, while Shanghai Composite SHCOMP,
decreased by 0.4%. Reference indices in the Singapore TSI,
Taiwan Y9999,
and Indonesia JAKIDX,
it slipped the same way.
Investors are waiting for the latest projections of the economic interest rate and the federal reserves, expected later that day. Economists expect Fed Chairman Jerome Powell to try to convince nervous financial markets that the central bank can continue to provide support without triggering higher inflation.
These worries have recently increased yields on higher bonds, reducing demand for shares.
The Fed meeting “has the potential to either mitigate or increase some of the market’s recent concerns about rising bond yields,” said Jingyi Pan, senior market strategist at IG in Singapore.
Wall Street ended a hectic trading day, with mostly smaller indices closing. The losses of banks, industrial stocks and companies that rely on consumer spending, including cruise line operators, have outpaced gains in Big Tech stocks and communications services.
S&P 500 SPX,
decreased by 0.2% to 3,962.71. Dow Jones Industrial Average DJIA,
lost 0.4% to 32,825.95. Nasdaq Company,
reduced the trend, benefiting from the rally of technology stocks and the increase by 0.1%, to 13,471.57.
Investors weighed in new economic data on Tuesday, showing that Americans cut spending last month, partly due to bad weather in large parts of the country, which kept shoppers away from stores and partly due to stimulus payments in December and January.
“We’re still in the middle of returning to a more normal environment,” said Jason Pride, Glenmede’s chief private equity investor. “Given the difficulties of government incentive payments, we will see that the numbers will jump around.”
In energy trade, US reference country CLJ21,
fell 9 cents to $ 64.71 a barrel in electronic trading on the New York Mercantile Exchange. It lost 59 cents on Tuesday to $ 64.80. Brent gross BRNK21,
international standard, lost 15 cents to $ 68.24 per barrel.
In foreign exchange, the US dollar USDJPY,
rose to 109.12 Japanese yen from 108.99 yen.