Asian markets trade mixed; Nikkei index ~1% lower

The US Federal Reserve said Tuesday it was establishing a temporary repurchase agreement facility to allow foreign central banks to swap any Treasury securities they hold for cash.

Apr 01, 2020 02:04 IST India Infoline News Service

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Asian indices opened in the red on Wednesday as overnight US indices again closed lower after seeing intraday gains. Chinese stocks continue to be the most sought as manufacturing activity sees expansion.

The Nikkei index, Hang Seng dropped nearly 1%, however, Kospi, Jakarta Composite and Shanghai Composite were trading in the positive territory.

The US Federal Reserve said Tuesday it was establishing a temporary repurchase agreement facility to allow foreign central banks to swap any Treasury securities they hold for cash. That’s yet another step beyond the actions it took in the 2008 financial crisis.

Overnight, the Dow Jones Industrial Average fell 410.32 points, or 1.84%, to 21,917.16, the S&P 500 lost 42.06 points, or 1.60%, to 2,584.59 and the Nasdaq Composite dropped 74.05 points, or 0.95%, to 7,700.10.

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