Stocks across the Asian region outside Japan, were swinging between losses and gains on Wednesday as stocks in Japan were boosted by the weaker yen. Meanwhile, the Federal Reserve (Fed) will be concluding its two-day policy meeting later in the day.
Japan
The Japanese benchmark Nikkei 225 index climbed 0.73%, closing at 15,115.80 points, while Tokyo’s Topix index edged 0.86% higher to 1,249.15 points.
The Japanese yen started the session at 102.1 yen against the greenback but weakened around 101.95 yen boosting stocks with Panasonic leading with gains on the Nikkei index, as shares rose 3.44%. While Nikon fell 3.13% after the company said it would invest approximately $2 billion to boost its medical equipment division.
Japan’s merchandise trade deficit expanded to 909 billion yen in May, compared to the 808.9 billion seen in previous month, data from the Ministry of Finance in Tokyo confirmed.
China
Hong Kong’s Hang Seng index gained 0.04%, trading at 23,214.49 points at the time of writing, while the Chinese benchmark Shanghai Composite slid 0.45% to 2,057.66 points.
The property developer New World Development rose 2.05%, while Tingyi lost 1.64% in shares. In Shanghai, the Agricultural Bank of China fell 2%.
The South Korean Kospi index declined 0.60% at 1,989.49 points.
Australia
The Australian S&P/ASX 200 index slid 0.25% lower, closing at 5,387.30 points, while the New Zealand benchmark NZX 50 index closed 0.17% lower to 5,184.46 points.
Aquila Resources climbed 7% to A$3.35 after the coal producer recommended a takeover bid from China’s Boasteel.
Fed Conclusion
The Federal Reserve will be concluding its two-day policy meeting later in the day, with analysts predicting that the Federal Open Market Committee will reduce its pace of monthly asset purchases by another $10 billion to $35 billion.
The Federal Open Market Committee is also expected to release fresh data of its quarterly forecasts for inflation, unemployment, economic growth and benchmark federal funds rate.
In March, Fed policymakers forecasted their target rate would be 1% by the end of 2015 and 2.25 in 2016. “We expect the Fed to make the following forecast changes: 2014 GDP will be revised lower, but so too will the year-end unemployment rate,” analysts at Deutsche Bank commented earlier this week.
Europe
European stocks advanced on Wednesday as investors focus on the outcome of the Federal Reserve’s policy meeting and the Bank of England meeting minutes.
The European Euro Stoxx 50 climbed 0.13%, opening at 3,279.22, while the German DAX gained 0.08% to 9,928.27. The French CAC 40 rose 0.04% to 4,537.68, while UK’s FTSE 100 edged 0.17% higher at 6,778.01.
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Stocks – Asia
Stocks across the Asian region outside Japan, were swinging between losses and gains on Wednesday as stocks in Japan were boosted by the weaker yen. Meanwhile, the Federal Reserve (Fed) will be concluding its two-day policy meeting later in the day.
Japan
The Japanese benchmark Nikkei 225 index climbed 0.73%, closing at 15,115.80 points, while Tokyo’s Topix index edged 0.86% higher to 1,249.15 points.
The Japanese yen started the session at 102.1 yen against the greenback but weakened around 101.95 yen boosting stocks with Panasonic leading with gains on the Nikkei index, as shares rose 3.44%. While Nikon fell 3.13% after the company said it would invest approximately $2 billion to boost its medical equipment division.
Japan’s merchandise trade deficit expanded to 909 billion yen in May, compared to the 808.9 billion seen in previous month, data from the Ministry of Finance in Tokyo confirmed.
China
Hong Kong’s Hang Seng index gained 0.04%, trading at 23,214.49 points at the time of writing, while the Chinese benchmark Shanghai Composite slid 0.45% to 2,057.66 points.
The property developer New World Development rose 2.05%, while Tingyi lost 1.64% in shares. In Shanghai, the Agricultural Bank of China fell 2%.
The South Korean Kospi index declined 0.60% at 1,989.49 points.
Australia
The Australian S&P/ASX 200 index slid 0.25% lower, closing at 5,387.30 points, while the New Zealand benchmark NZX 50 index closed 0.17% lower to 5,184.46 points.
Aquila Resources climbed 7% to A$3.35 after the coal producer recommended a takeover bid from China’s Boasteel.
Fed Conclusion
The Federal Reserve will be concluding its two-day policy meeting later in the day, with analysts predicting that the Federal Open Market Committee will reduce its pace of monthly asset purchases by another $10 billion to $35 billion.
The Federal Open Market Committee is also expected to release fresh data of its quarterly forecasts for inflation, unemployment, economic growth and benchmark federal funds rate.
In March, Fed policymakers forecasted their target rate would be 1% by the end of 2015 and 2.25 in 2016. “We expect the Fed to make the following forecast changes: 2014 GDP will be revised lower, but so too will the year-end unemployment rate,” analysts at Deutsche Bank commented earlier this week.
Europe
European stocks advanced on Wednesday as investors focus on the outcome of the Federal Reserve’s policy meeting and the Bank of England meeting minutes.
The European Euro Stoxx 50 climbed 0.13%, opening at 3,279.22, while the German DAX gained 0.08% to 9,928.27. The French CAC 40 rose 0.04% to 4,537.68, while UK’s FTSE 100 edged 0.17% higher at 6,778.01.
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