Asian stock markets displayed a mixed performance in recent trading sessions, reflecting investor uncertainty as they closely monitor the upcoming Federal Reserve (Fed) meeting.
In Japan, the Nikkei closed at 33,242.59 points, marking a decline of 290.50 points or -0.87%.
Australia’s stock market also saw a decline, with the S&P/ASX 200 closing at 7,196.60 points, down by 33.80 points or -0.47%. The All Ordinaries index closed at 7,395.00 points, down 33.10 points or -0.45%. The market faced downward pressure, particularly in mining and banking sectors. Additionally, minutes from a Reserve Bank of Australia (RBA) meeting revealed discussions about raising interest rates at the September meeting.
China’s Shanghai Composite experienced slight losses, closing at 3,124.96 points, down by 0.98 points or -0.03%. Investors awaited the announcement of the Prime Customer Rate (LPR) by the People’s Bank of China, scheduled for September 20.
South Korea’s Composite (KOSPI) index closed negatively for the second consecutive day at 2,559.21 points, down 15.51 points or -0.60%. This decline was attributed to falls in semiconductor and technology stocks. Investors in South Korea are closely watching the results of the upcoming Federal Reserve’s (Fed) monetary policy meeting, scheduled for September 20 in US time. Meanwhile, the South Korean won weakened against the US dollar.
In Hong Kong, the Hang Seng index bucked the trend by closing positively at 17,997.17 points, up by 66.62 points or +0.37%. Investors in Hong Kong are keenly observing developments related to the US Federal Reserve’s (Fed) monetary policy meeting and actions taken by the Hong Kong Central Bank throughout the week.