(MENAFN– ecpulse)
Asian stocks were mixed on Wednesday ahead of the Federal Reserve`s policy statement and the US GDP numbers later today. The central bank might indicate when the asset purchase program will be cut down. Investors are also looking ahead to Thursday BoE’s and the ECB’s policy meetings.
- The MSCI Asia Pacific Index fell 0.9% to 132.59 as of 15:30 Tokyo
In Tokyo the benchmark index widened losses as the yen strengthened falling below the 98-mark as investors digested the latest batch of corporate earnings. Wacom sank 15% after a fall in net profit, while Fujitsu retreated 3% after reporting a net loss. Markets are now awaiting the results of Mazda, Honda, Panasonic and Nintendo.
- Nikkei 225 closed 1.45% lower at 13668.32
- Topix closed 1.47% lower at 1131.70
In China stocks rose after reports showing China`s Politburo would increase support for the real economy while promoting real estate development, boosting property developers, while in Hong Kong stocks fell as caution set in ahead of Thursday`s official manufacturing purchasing managers index.
- China’s CSI 300 Index closed 0.17% higher at 2193.02
- Hong Kong’s Hang Seng closed 0.32% lower at 21883.66
In Australia stocks advanced on hopes of an interest-rate cut at next week`s Reserve Bank of Australia (RBA) meeting. Meanwhile the Australian dollar extended losses to a new two-and-a-half-week low following Tuesday`s comments from RBA governor Glenn Stevens when he said the currency could decline further.
- The S&P/ASX 200 closed 0.09% higher at 5051.98
- New Zealand’s NZX 50 closed 0.28% lower at 4537.98
In South Korea the benchmark index “briefly touched a new two-and-a-half-week high at 1,920 points but closed below those levels as automakers broke their six-day winning streak”. Hyundai fell 2% after the previous day’s rally. Korea Gas jumped 4% on news that gas prices will be hiked starting Thursday.
- Kospi closed 0.16% lower at 1914.03
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