Navigation
Suscribe
Menu Search Facebook Twitter
Search Close
Menu ALL SECTIONS
  • Capital Coahuila
  • Capital Hidalgo
  • Capital Jalisco
  • Capital Morelos
  • Capital Oaxaca
  • Capital Puebla
  • Capital Quintana Roo
  • Capital Querétaro
  • Capital Veracruz
  • Capital México
  • Capital Michoacán
  • Capital Mujer
  • Reporte Índigo
  • Estadio Deportes
  • The News
  • Efekto
  • Diario DF
  • Capital Edo. de Méx.
  • Green TV
  • Revista Cambio
Radio Capital
Pirata FM
Capital Máxima
Capital FM
Digital
Prensa
Radio
TV
X
Newsletter
Facebook Twitter
X Welcome! Subscribe to our newsletter and receive news, data, statistical and exclusive promotions for subscribers
Business

Asian stocks mixed ahead of Fed rate announcement

Asian stock markets are mixed after Wall Street gained as investors looked ahead to a likely U.S. interest rate hike. Japan's market benchmark declined while Hong Kong and Seoul gained and Shanghai was unchanged.

An investor looks at the Chinese market index at a brokerage in Beijing, China, Wednesday, Dec. 13, 2017. Asian stocks were mixed Wednesday following overnight gains on Wall Street as investors looked ahead to a likely U.S. interest rate hike. (AP Photo/Ng Han Guan), An investor looks at the Chinese market index at a brokerage in Beijing, China, Wednesday, Dec. 13, 2017. Asian stocks were mixed Wednesday following overnight gains on Wall Street as investors looked ahead to a likely U.S. interest rate hike. (AP Photo/Ng Han Guan)
By The News Whatsapp Twitter Facebook Share
1 month ago

BEIJING (AP) — Asian stocks were mixed Wednesday following overnight gains on Wall Street as investors looked ahead to a likely U.S. interest rate hike.

KEEPING SCORE: The Shanghai Composite Index was unchanged at 3,279.43 while Tokyo’s Nikkei 225 lost 0.3 percent to 22,805.80. Hong Kong’s Hang Seng gained 0.5 percent to 28,925.73 and Seoul’s Kospi advanced 0.4 percent to 2,471.74. Sydney’s S&P-ASX 200 was unchanged at 6,015.00. Benchmarks in New Zealand and Singapore declined while Taiwan and other Southeast Asian bourses were higher.

WALL STREET: Big-name companies gained, delivering records for two of the major stock indexes. Banks and other financial stocks led the gainers as the Fed met to discuss interest rates. Technology stocks declined the most. Energy stocks also fell as crude oil prices closed lower. Bitcoin futures fell on their second day of trading. The Standard & Poor’s 500 index rose 0.2 percent to 2,664.11. The Dow Jones industrial average gained 0.5 percent to 24,504.80. The Nasdaq composite lost 0.2 percent to 6,862.32.

FED WATCH: The U.S. central bank is expected to raise rates Wednesday for the third time this year, which allows banks to charge more to lend money. Even though inflation has remained low, the Fed has seen a path to gradually raise rates as the economy and labor market have strengthened. An increase of 0.25 percent in short-term interest rates “is as good as a done deal” based on options markets pricing, Mizuho Bank said in a report. Investors will be listening for any hints the Fed could pick up its pace on rate hikes next year.

ANALYST’S TAKE: “The Fed looks set to hike the Fed funds rate, so it is really down to how quickly we can react to any changes in the ‘dots plot,’ as well as to the general tone of the statement,” said Chris Weston of IG in a report. He noted outgoing Fed chair Janet Yellen will be holding her final press conference. “One questions how much the market will react to her views, although she does speak on behalf of the collective,” said Weston. “Either way, it promises to be a big night for markets even if implied volatility is still quite subdued and options markets are not pricing in fireworks.”

EUROPE: The European Central Bank and the Bank of England will have policy announcements on Thursday. Neither is expected to change rates, leaving the focus on their economic forecasts.

CURRENCY: The dollar declined to 113.45 yen from Tuesday’s 113.54 yen. The euro strengthened to $1.1749 from $1.1739.

ENERGY: Benchmark U.S. crude rose 41 cents to $57.55 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 85 cents on Tuesday to $57.14. Brent crude, used to price international oils, advanced 61 cents to $63.95 in London. It plunged $1.35 the previous session.

Comments Whatsapp Twitter Facebook Share
More From The News
Latest News

Despite doping scandals, Olympic fever g ...

24 hours ago
Living

UAEM consolidates academic and scientifi ...

2 days ago
Latest News

Japan public TV sends mistaken North Kor ...

2 days ago
Latest News

Tillerson warns military action on NK un ...

2 days ago
Most Popular

Snapchat, Seagate Among Companies Duped ...

By The News
Business

Robotics Expert: Self-driving Cars Not R ...

By The News
Business

Brazil's Agnelli, Who Turned Vale Into T ...

By The News
Business

Eurozone Economic Confidence Falls to 13 ...

By The News
Business

Apple Loses China Trademark Case for "iP ...

By The News
Business