Asian markets trade mixed ahead of Fed rate decision

All eyes will be on the Federal Reserve which meets tonight on policy rates with 25 bps cut being priced in.

Sep 18, 2019 02:09 IST India Infoline News Service

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Asian markets opened mixed as yesterday's volatility hurt sentiment. All eyes will be on the Federal Reserve which meets tonight on policy rates with 25 bps cut being priced in.

Chinese markets are seeing pressure as Hong Kong unrest is sending negative signals to longer-term investments.

The Nikkei 225 in Japan was little changed in morning trade, while the Topix fell 0.36% as data showed on Wednesday that Japan’s exports fell 8.2% yoy in August.

South Korea’s Kospi gained 0.17%. Over in Australia, the S&P/ASX 200 traded largely flat.

Further, crude oil prices extended their losses from the previous session on Wednesday after Saudi Arabia's energy minister said the Kingdom will restore lost oil production by the end of the month. But investors remained cautious of potential tension in the Middle East after the United States said it believes the attacks that crippled Saudi Arabian oil facilities last weekend originated in south-western Iran. Iran has denied involvement in the strikes, the media report added.

Meanwhile, US stocks close with gains as oil prices fall over 6% with Saudi Arabia production back on track faster than expected. Technology stocks led the gainers with expectations of better results in the coming quarter. Bond yields trade at highest level in last month, closer to 1.82%.

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