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Fed meeting: Asian stock markets with a weak trend
Japanese leading index Nikkei 225 closes in the red - How does the holiday in China and Hong Kong affect the stock markets? Find out more about the current developments. #Nikkei225 #Stock Exchange #ChinaHoliday
Fed meeting: Asian stock markets with a weak trend
In Asia, the market showed general weakness on Wednesday. While stock exchanges in China, Hong Kong and South Korea remained closed for holidays, Tokyo posted moderate losses. The Japanese leading index Nikkei 225 closed 0.34 percent lower at 38,274.05 points. This development followed weaker New York trading the previous day.
A global focus is on the Fed's interest rate decision, which was planned for Wednesday evening. Traders expressed concern that emerging wage growth is fueling uncertainty ahead of the Federal Reserve's upcoming news conference. The question in the market is whether Fed Chair Jerome Powell will hint that current interest rates may not be restrictive enough to control inflation.
Investors had originally been factoring in interest rate cuts this year, but those expectations have recently been severely dampened by stubborn inflation. Because of this, investors shifted their attention to risk in the markets. The critical mood in trading was also influenced by the Fed's upcoming decision.
Stock exchanges in China, Hong Kong and South Korea enjoyed a holiday, while the Nikkei 225 in Tokyo ended with losses. Global attention was on the Fed's interest rate decision, which triggered potential uncertainty in the markets. Developments on the Nikkei 225 reflected investors' general caution about key Federal Reserve decisions that could impact global financial markets.