Asian markets were seen mostly trading lower on Tuesday as Wall Street saw losses before the Federal Reserve policy meeting due to begin later in the day.
Industrial production in the US fell 0.1% lower in August, compared to the 0.2% rise recorded in the previous month. The US capacity utilization rate came in at 78.8% in August from last month’s 79.1%.
China’s benchmark Shanghai Composite fell 0.65% lower to 2,323.67 points, while Hong Kong’s Hang Seng index was closed due to Typhoon Kalmaegi.
The Chinese telecommunications giants, China Mobile saw the most losses during the session in China, with shares falling 3.7%. In Hong Kong, PAX Global Technology slumped 13% after its controlling shareholder sold a stake in the company.
In Japan, the benchmark Nikkei 225 index edged 0.23% lower to 15,911.53 points, while Tokyo’s Topix index was down by 0.19% to 1,311.20 points. Japan’s financial and property market opened the session lower, with Heiwa Real Estate fell 2.2%, Mitsubishi Estate lost 1.7% and Sumitomo Realty & Development slid 2.5%.
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Credit Saison and Sumitomo Mitsui Trust Holdings lost 2% each, while Sumitomo Mitsui Financial Group declined 1.3%. However, the weaker yen boosted some exporters’ gains, with Sony gaining 1.7%, Toshiba rising 1.1%, while SoftBank added 3.5% to 8,657 yen.
The South Korean Kospi index edged 0.34% higher to trade at 2,042.92.
In Sydney, the benchmark S&P/ASX 200 index traded 0.52% lower to 5,445.00 points as miners saw rallied after iron ore spot prices went up 3.9%.
Rio Tinto gained 0.9%, while Mount Gibson and Fortescue Metals each rose 2.8% and BHP Billiton advanced 0.7%.
Ramsey Health Care slipped 3.8% to A$49.10 after Paul Ramsay Holdings sold a 2.2% share it owned in the healthcare company.
Members of the Federal Open Market Committee will begin its policy meeting later in the day and will be discussing the timing of when to start raising interest rates.
European stocks were seen starting lower as the market awaits the German ZEW and UK data before the Scottish Independence vote on Thursday.
The UK’s benchmark FTSE 100 slid 0.16% lower to open at 6,793.28 at the time of writing, while the French CAC lost 12% to 4,423.10.
In Germany, the benchmark DAX declined 0.24% to 9,636.29, while Euro Stoxx 50 was down 0.16% to open at 3,226.67.
In Germany, the ZEW indicator is expected to have fallen for the ninth month in a row to 5.0 in September. Meanwhile in the UK, all eyes remains on the Scottish votes and UK’s consumer Price Index, which is expected to remain unchanged at 1.8%.
The Bank of England’s minutes, unemployment report and rate vote are expected t be released on Wednesday.
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