Asia markets stumble as Fed watched for further cues – CNBC

8 months ago Comments Off on Asia markets stumble as Fed watched for further cues – CNBC

Asian markets traded broadly lower on Tuesday, led by declines in Japan and China, as investors await further cues from next month’s U.S. Federal Reserve monetary policy meeting.

The Nikkei 225 closed down 0.94 percent, or 155.84 points at 16,498.76, amid pressure from fresh strength in the yen against the dollar. Across the Korean Strait, the Kospi ended lower 0.9 percent, or 17.57 points at 1,937.68.

Australia’s S&P/ASX 200 closed down 0.44 percent, or 23.343 points at 5,295.6, weighed by a 1.28 percent decline in the energy sub-index.

Chinese mainland markets fell, with the Shanghai composite closed down 0.76 percent, or 21.604 points to 2,822.041, while the Shenzhen composite settled down 0.9 percent, or 16.389 points to 1,804.603.

In Hong Kong, the Hang Seng index closed up 0.11 percent, or 21.4 points at 19,830.43.

Stateside, the Dow Jones industrial average finished down 0.05 percent, the S&P 500 was down 0.21 percent and the Nasdaq composite ended 0.08 percent lower.

“The talk on the trading floors this morning centers on the limited moves in markets, although some will welcome this, notably the Fed who have had a hand in creating these conditions,” said Chris Weston, chief market strategist at spreadbetter IG in a morning note.

Weston added that the relatively soft finish from both the Dow and the S&P 500 was an indication of the lack of immediate catalysts in markets.

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