danielvfung
The Asia-Pacific equity markets were mostly in red on Wednesday, after the US benchmark ended an eight-day gain overnight ahead of July’s Fed meeting minutes and Chair Powell’s Jackson Hole speech Friday.
The Japan (NKY:IND) -0.35%. The Nikkei 225 Index fell, giving back some gains from the previous session, as the yen resumed its rally. The Japanese yen traded around 145.4 per dollar on Wednesday.
Domestically, investors reacted to data showing Japan’s trade deficit widened in July as exports grew less than expected while imports accelerated.
China (SHCOMP) -0.29%. The Shanghai Composite struggling to gain traction as the lack of fresh stimulus measures weighed on investor sentiment.
Hong Kong (HSI) -0.95%.
India (SENSEX) -0.09%. India’s shares fell in early deals on Wednesday, halting rallies in the prior session, weighed down by tech, financial services, and banking sectors.
Australia (AS51) +0.16%. The S&P/ASX 200 Index rose on Wednesday, snapping an eight-day winning streak.
The Westpac-Melbourne Institute Leading Economic Index in Australia was flat on the month in July 2024, staying muted for the fourth consecutive month.
In the U.S., on Tuesday, all three major indexes ended in red as investors awaited signals from the Federal Reserve on future interest rate cuts.
U.S. stock futures were little changed on Wednesday as investors cautiously awaited the latest Federal Reserve policy meeting minutes to gain clarity on the monetary policy direction: Dow +0.13%; S&P 500 +0.09%; Nasdaq +0.06%.
Markets also look forward to Fed Chair Jerome Powell’s speech at the Jackson Hole symposium on Friday, for insights into the US central bank’s future stance on its policy rate.
Currencies: (JPY:USD), (CNY:USD), (AUD:USD), (INR:USD), (HKD:USD), (NZD:USD).