Asian stock markets experienced a day of losses as investors anxiously awaited the Federal Reserve’s Monetary Policy Committee (FOMC) announcement scheduled for Wednesday in the United States. Market indices across the region responded as follows:
Hong Kong’s Hang Seng: Closed at 17,885.60 points, marking a decrease of 111.57 points or -0.62%. The decline was attributed to investor caution as they closely monitored the FOMC meeting resolution.
South Korean Composite (KOSPI): Closed at 2,559.74 points, recording a slight increase of 0.53 points or 0.02%. Investors proceeded cautiously ahead of the forthcoming Federal Reserve monetary policy meeting outcome.
China’s Shanghai Composite: Ended the session in negative territory, closing at 3,108.57 points. The index experienced a decline of 16.39 points or -0.52%. Selling pressure from foreign investors and concerns about China’s economic outlook weighed on the market.
Australia’s S&P/ASX 200: Closed at 7,163.30 points, posting a loss of 33.30 points or -0.46%. Similarly, the All Ordinaries closed at 7,361.90 points, down by 33.10 points or -0.45%. These losses were attributed to investors selling stocks to mitigate risk ahead of the Federal Reserve’s monetary policy decision. Additionally, weak trade data from Japan added further pressure to Asian stock markets.
Tokyo’s Nikkei: Ended the session at 33,023.78 points, marking a decline of 218.81 points or -0.66%. Investors exercised caution as they awaited the results of the Federal Reserve’s monetary policy meeting scheduled for Wednesday in the United States.
The overall sentiment in Asian markets was shaped by uncertainty surrounding the Fed’s upcoming decision, with investors keenly observing the potential impact on global financial markets.