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The Fed's interest rate decision weighs on stock markets in Asia
Asia/Pacific stocks down: Tokyo and Sydney post moderate losses after weak New York trading. Looking forward to the Fed's interest rate decision. Nikkei-225 falls by 0.34%, S&P/ASX 200 by 1.11%. #Stocks #Stock Market #Fed interest rate decision
The Fed's interest rate decision weighs on stock markets in Asia
In Asia, open stock markets showed weakness on Wednesday, with moderate losses in Tokyo and Sydney. The trading venues in China, Hong Kong and South Korea paused due to the holiday. The weakness followed the previous evening's New York trading.
Particular attention worldwide is on the Fed's interest rate decision, which is due on Wednesday evening. Traders said accelerating wage growth added uncertainty ahead of the Federal Reserve's news conference. There is speculation that Fed Chairman Jerome Powell will hint that the current interest rate may not be enough to control inflation.
Investors had originally expected interest rate cuts this year, but stubborn inflation had significantly dampened expectations. Investors were therefore now more cautious.
The Japanese leading index Nikkei-225 recorded a decline of 0.34 percent to 38,274.05 points in the middle of the week. In Australia, the S&P/ASX 200 fell 1.11 percent to 7,578.8 points.