Asian shares was seen trading mixed on Wednesday, as the US consumer sentiment hit a four-month low and shares in China and Australia were seen trading higher.
The Japanese benchmark Nikkei 225 index dropped 0.39% to 14,674.65 points as of 2:36am GMT, while Tokyo’s broader Topix index edged 0.57% lower at the same time. The Japanese yen strengthened, trading at ¥98.65 as of 2:52am GMT, dragging shares of electronic manufacturer’s Sharp lower by 2.5%, following previous session’s losses.
Hong Kong’s Hang Seng index rose 0.3% to 23,249.04 points as of 2:47am GMT, while the mainland Chinese benchmark Shanghai composite advanced 0.12% to 2,210.07 points as of 3:03am GMT.
In Australia, the S&P/ASX 200 index edged 0.89% higher to 5,280.70 points, as of 3:01am GMT.
On Wednesday, the Australian central bank released its bi-annual financial stability review, which showed a weak outlook for the economy. The released statement showed that t he mining sector probably peaked, meanwhile Korea’s benchmark Kospi index edged 0.61% lower to 1,994.82 points as of 2:42am GMT.
In New Zealand, the country’s benchmark NZX 50 index gained 0.8% to 4,748.21 points as of 2:40am GMT, as the country hit its highest August trade debit of NZ$1.19 billion, the Statistics office in Wellington confirmed. Exports remained unchanged while imports rose 9.7% year-on-year.
Asian Shares – Fed Uncertainty
William Dudley, New York Fed President tipped-off the possibility of the Federal Reserve scaling-back on its bond-buying program later this year.
“If the economy were behaving in a way aligned with the Fed’s June forecast, then it’s certainly likely that the Fed would begin to taper later this year,” Dudley said in an interview with CNBC.
While the Fed President of Atlanta, Dennis Lockhart said that he supported the Fed’s decision to keep the stimulus program unchanged and he wants to see a more dynamic economy before any changes will be made to its asset-purchasing program.
Dallas Fed President Richard Fisher was against the Fed’s decision, “disagreed with the decision of the committee and argued against it,” he said.
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