Asia Pacific Equities: Reluctance to take on key US economic data
TOKYO / HONG KONG / SHANGHAI / SYDNEY (dpa-AFX) – Investors on the Asian stock exchanges held back on Wednesday in front of numerous important US economic data.
In the middle of the week, especially in the USA, there is a veritable flood of economic data on the program. Due to the holiday “Thanksgiving” on Thursday, which many US citizens and authorities use for a long weekend, many dates are brought forward to this Wednesday. In addition, the US Federal Reserve publishes its minutes of the latest interest rate meeting. Analysts and investors will check it out for additional clues about central bankers’ monetary policy. The Fed has started to tighten its monetary policy somewhat by gradually scaling back its huge asset purchases.
“Interest and inflation” remains a key topic on the stock exchange – in addition to the corona situation. Just this week, Jerome Powell’s nomination for a second term as head of the US Federal Reserve and the current tense corona situation caused real interest rates to rise in the US, as Deutsche Bank expert Jim Reid explains. Investors have now assumed a less “dovish” Fed, that is, a somewhat less generous and loose monetary policy.
That had already burdened the courses in Asia on Tuesday. On Wednesday, investors did not lean too far out of the window, despite slightly positive guidance from Wall Street. It had recovered a little in late trading.
In Tokyo, the Japanese leading index Nikkei 225 closed 1.6 percent lower at 29,302.66 points in the middle of the week. However, no trading took place in Tokyo on Tuesday due to a public holiday.
In China, the CSI 300 Index (CSI 300) with the 300 most important companies from the mainland remained stable at 4915 points, the Hang Seng Index (Hang Seng) in the Hong Kong Special Administrative Region rose by half a percent in late trading 24 776 points.
The leading indices in South Korea and Australia fell moderately./mis/eas