Asian Markets Eagerly Await Federal Reserve Meeting Data

0
29
Landscape of the Singapore financial district and business building.

Asian shares remained mixed on Thursday as investors wait for the Federal Reserve meeting on interest rates next week. Sydney and Tokyo both suffered losses, with the S&P/ASX 200 closing the day down 0.84%, and the Shanghai composite index ending the day down 0.46%. The Nikkei 225 suffered the biggest losses, ending the day down 1.32%.

Australia released employment data that showed positive gains in the country’s job market in the month of November. There were a total of 71,400 jobs gained on the month, with an unemployment rate of just 5.8%. Analysts expected a 6% unemployment rate for the month of November. Australia’s annual MRI inflation for December is 4%, up from 3.5% in November.

New Zealand announced an official cash basis cut of 25 points, down to 2.5%.

Japan released data that their corporate goods prices for November dropped for the eighth month straight, down 0.1%.

United States stocks also fell for the third straight session. The Dow Jones Industrial Average (DJI) closed Wednesday, down 0.43% despite strong morning activity. The index has since recovered, up 0.49% on Thursday during mid-morning trading. The NASDAQ composite index is also up 0.41% on Thursday following a loss of 1.48% on Wednesday. Technology stocks from Facebook (FB), Amazon (AMZN), Netflix (NFLX) and Google (GOOGL) dropped a combined 1% on Wednesday.

LEAVE A REPLY

Please enter your comment!
Please enter your name here