Asian Stocks were seen trading mixed on Wednesday, as investors waits for the decision from the Federal Reserve’s (Fed) two-day meeting ending today. Analysts are expecting the Fed to announce when they would begin to scale-back on its stimulus program.
Meanwhile, the Japanese indices advanced, as it was driven by the upbeat data seen in the US indices from the previous session, as investors waits for the conclusion of the Fed Open Market Committee(FOMC) from its two-day meeting ending toady.
Majority of investors are expecting the Fed to begin tapering its $85 billion monthly bond-buying program as soon as this month, while some analysts are predicting that the Fed policymakers would postpone their decision until December due to the mixed results released in the recent weeks.
Earlier in May, Fed Chairman Ben Bernanke hinted that the central bank could begin to scale-back on its US stimulus program as soon as this year, which has lead to investors worrying over the possible risk of tapering.
Asian Stocks – Japan
The Japanese benchmark Nikkei 225 advanced 1.35% higher to 14,505.36 points, after reaching an eight-week high of 14,578.34 points earlier in the day.
The US dollar was seen rising slightly higher against the Japanese yen, edged up 0.08% at ¥99.22.
Electronics manufacturers, Tokyo Electron, saw the biggest gain as it rose 5.5%, while Taisei Corporation, declined 1.8%.
Kawasaki Heavy Industries, gained close to a six-year high, rising 4.4% higher. While Kansai electric dropped 1.4% after stopping units from its two power plants. Sharp Corporation edged up 1.9% higher, following its board meeting announcement, where the board members are expected to discuss a public offering of shares and a capital alliance to improve its balance sheet.
Tokyo’s broader Topix index advanced 1.05% higher to 1,194.65 points, driven by the region’s upbeat data.
Asian Stocks – China
In China, the country’s session saw slight gains, with Hong Kong’s Hang Seng gaining 0.05% to 23,191 points at the time of writing, while the mainland biggest Shanghai Composite advanced 0.29& higher to 2,192.05 points.
China’s housing index rose to 8.3% in August from previous reading of 7.5% in July, the National Bureau of Statistics of China confirmed.
Cheung Kong Holdings, real-estate developer gained 2.2% higher, while it rival China Resources lost 2.4%.
Visit www.hymarkets.com for updates,news and more information on how you can start trading with the award-winning broker today with only $50 .
The post Asian Stocks Mixed Ahead of Fed Meeting Conclusion appeared first on | HY Markets Official blog.
Article provided by HY Markets Forex Blog
