Asian stocks lower amid Bank of Japan rate hike and Fed meeting
Asian stocks are falling as the Bank of Japan raises interest rates and the Fed's next meeting。
On Tuesday (March 19), most of Asia's stock markets fell, the Japanese market fell on the occasion of the Bank of Japan may introduce transformative policies, and the possible outcome of the Federal Reserve meeting also depressed market sentiment。
While U.S. stock index futures slipped in Asian trading, technology stocks rebounded slightly, regional markets did not buy into Wall Street's overnight closing optimism。Markets remain concerned that the Fed could send a hawkish signal, with the bank expected to leave interest rates unchanged on Wednesday。
Nikkei 225 down 0 ahead of upcoming BoJ meeting.5%, while the TOPIX index fell 0.2%, with both markets giving up some of the previous day's gains。
The market's focus was on a two-day meeting of the Bank of Japan later in the day。The central bank is expected to raise interest rates for the first time in 17 years and end its negative interest rate and yield curve control, ending nearly a decade of ultra-loose monetary policy.。
Bets on the Bank of Japan's policy shift have risen sharply in recent weeks, thanks to the country's persistent inflation situation, while key Japanese labor groups have secured significant wage growth for the year.。
The Nikkei fell from record highs last week on fears of a policy shift by the Bank of Japan that would end the stimulus the Japanese market has enjoyed for nearly a year.。However, economists expect the Bank of Japan to tighten policy only gradually.。
Other regional central bank meetings have also been planned.。Australia's ASX 200 remains flat ahead of RBA meeting, RBA expected to leave rates unchanged and maintain hawkish stance。
China's Shanghai-Shenzhen 300 Index and Shanghai Composite Index edged lower as investors digested conflicting economic data from the previous session, while declines in technology companies dragged Hong Kong's Hang Seng Index down 0.7%。The People's Bank of China will also make a decision this week on its benchmark lending rate, which is expected to remain stable on Wednesday.。
India's Nifty 50 Index futures heralded a moderately negative start as the index fell below its all-time high amid fresh market signs.。
Disclaimer: The views in this article are from the original author and do not represent the views or position of Hawk Insight. The content of the article is for reference, communication and learning only, and does not constitute investment advice. If it involves copyright issues, please contact us for deletion.
