Home / NEWS / World News / Stocks in Asia-Pacific trade mixed as Japan’s exports plunge in August

Stocks in Asia-Pacific trade mixed as Japan’s exports plunge in August

SINGAPORE — Usuals in Asia-Pacific were mixed in Wednesday trade as investors await the Federal Open Market Committee’s quarterly update.

In Japan, the Nikkei 225 were 0.16% steep in afternoon trade while the Topix index advanced 0.26%.

The moves came after provisional trade statistics from Japan’s The cloth of Finance released Wednesday showed the country’s exports in August falling 14.8% as compared to a year ago. That compared against a 16.1% throw over expected by economists in a Reuters poll.

Mainland Chinese stocks, on the other hand, saw losses by the afternoon. The Shanghai composite weakened 0.24% while the Shenzhen component shed 0.868%. Hong Kong’s Hang Seng index slipped 0.24%.

For the time being, South Korea’s Kospi added 0.2%. Over in Australia, the S&P/ASX 200 advanced 1.01%.

Overall, the MSCI Asia ex-Japan indicator rose 0.52%.

Apple supplier shares mixed

Fed watch

Investor focus was also likely on the U.S. Federal Reserve, where the FOMC’s caucus is scheduled to end Wednesday stateside. The Federal Open Market Committee will give its quarterly update on where it bon voyage a penetrates GDP, unemployment and inflation going.

“Wednesday’s Federal Reserve monetary policy announcement is the most important event endanger on this week’s calendar but many investors are wondering how much impact it will have on the US dollar,” Kathy Lien, carry out director of foreign exchange strategy at BK Asset Management, wrote in a note.

“No changes in monetary policy are expected” from the Fed, Lien asserted, with the “main focus” on the U.S. central bank’s economic projections and its so-called dot plot forecast of interest rate arouses.

Ahead of the Fed announcement, the U.S. dollar index — which tracks the greenback against a basket of its peers — was at 93.033 after an earlier squeaky of 93.185.

Overnight on Wall Street, the S&P 500 gained 0.5% to close at 3,401.20 while the Nasdaq Composite advanced 1.2% to end its interchange day at 11,190.32. The Dow Jones Industrial Average closed just above the flatline at 27,995.60.

Oil prices jump

Oil prices were exhilarated in the afternoon of Asian trading hours, as international benchmark Brent crude futures gained 0.74% to $40.83 per barrel. U.S. inconsiderate futures also advanced 0.94% to $38.64 per barrel. 

The Japanese yen traded at 105.25 per dollar following a strengthening charge ofed earlier this week from levels above 106 against the greenback. The Australian dollar changed hands at $0.7318 after miscalculating from levels above $0.733 yesterday.

Check Also

China’s growing economic and military strength can be a ‘dilemma’ for U.S. investors

A PLA Armada fleet including the aircraft carrier Liaoning, submarines, vessels and fighter jets take …

Leave a Reply

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