Stocks in Asia fell on Tuesday, tracking losses from Wall Street seen overnight as the Federal Open Market Committee (FOMC) concludes its two-day policy meeting.
Analysts are expecting the central bank to announce the end to its monetary easing program by eliminating its remains $15 billion worth of monthly asset purchases and keeping its key interest rate unchanged at 0.25%.
Asia Stocks
In Japan, the benchmark Nikkei 225 index fell 0.24% to 15,351.41 points, while Tokyo’s Topix index eased 0.15% to 1,252.41 points.
The Japanese yen strengthened against the US dollar, trading around 107.90 yen against 108.20 on Monday, dragging exporter’s gains lower.
Construction Company Kajima slumped 6% after the cut in its net income forecast, while Hino Motors declined 1.8%, Mitsubishi Motors lost 1% and Canon tumbled 2.6% after reporting a fall in its earnings report. On the positive side, Sumco Corp gained 2.6% after Jefferies Group LLC raise its ratings.
Free Reports:
Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Retail Sales in Japan climbed 2.7% in September from last month’s reading of 1.9% on a monthly basis. While on an annual basis, retail spending rose 2.3% in September, according to a report from the Ministry of Economy Trade and Industry (METI).
Hong Kong’s Hang Seng Index gained 0.51% to 23,268.84 points during the early hours of trading, while the Chinese mainland Shanghai Composite added 0.32% to 2,297.68 points at the same time. The benchmark index rose to its highest in three months after the President Xi Jinping signaled a nationwide expansion of free-trade zones.
The South Korean Kospi index came in at 0.35% to 1,925.30 points at the time of writing, while Australia’s S&P/ASX 200 index edged 0.41% to 5,436.70 points.
In Sydney, mining stocks opened lower with Atlas Iron falling by 7.5%, Mount Gibson Iron declining 2% and BC Iron slumped by more than 9%. Financial stocks were also dragged lower, with ANZ down 0.2%, Westpac sliding 1.7%, Commonwealth Bank of Australia lost 0.4% and National Australia Bank lost 0.7%.
Europe Stocks
European stocks were seen trading higher on Tuesday, with the Federal Reserve (Fed) meeting in the spotlight.
The European Euro Stoxx 50 rose 0.69% to start at 3,019.85, while the French CAC index came in at 0.54% higher to 4,118.37 and UK’s benchmark FTSE 100 gained 0.70% to 6,408.11. Germany’s DAX 30 index added 0.92% to 8,984.71 at the time of writing, while the country’s Business climate index dropped to 103.2 points in October, the lowest since December 2012.
Visit www.hymarkets.com to find out more about our products and start trading today with only $50 using the latest trading technology today.
The post Stock Markets Report 28th October appeared first on | HY Markets Official blog.
