The Fed reaffirmed its commitment to support the economy, and Korean and Japanese stocks still went down
After the US Federal Reserve (Fed) reaffirmed its commitment to long-term support for the economy, Chinese stocks flourished, while Korean stocks were red.
|Australia’s S & P / ASX 200 index rose 2.18% on September 23rd session. Photo: AFP|
Australian stocks led the uptrend in the region with the S & P / ASX 200 index increasing by 2.18% in the session on 23/9. Mainland Chinese stocks also prospered today, with the Shanghai Composite Index inching slightly and the Shenzhen Component up 0.366 percent. On the Hong Kong market, the Hang Seng Index was less volatile.
On the contrary, Korean stocks were tinged with red with the Kospi slipping 0.12 percent after a decline of more than 2 percent recorded in yesterday’s session on September 22.
Back after the holiday season, Japanese stocks today opened the first session of the week in red. Specifically, the Nikkei 225 index slipped 0.37% while the Topix index lost 0.44%. Overall, the MSCI Asia-Pacific (excluding Japan) increased slightly by 0.17%.
In a recently prepared statement, Fed Chairman Jerome Powell said the agency remains committed to supporting the economy through its tools for as long as the economy needs tools. that tool. The head of the Fed also said that “many economic indicators show a marked improvement” although the way forward “continues to be very volatile”.
In the UK, the Covid-19 movement is weighing on investor sentiment, along with the fact that British Prime Minister Boris Johnson on September 22 changed his mind to lift some blockade measures in this country, in a digital context. Covid-19 infections are on the rise.
Meanwhile, the number of Covid-19 infections in the US also tends to increase after weeks of decline. Some medical experts believe that it is too early to tell whether a trend will persist. To date, Covid-19 has claimed the lives of more than 200,000 people in America.
The money market today recorded a stronger greenback. The US dollar index against other major currencies increased from 93.5 to 94,187. The Japanese Yen weakened and converted $ 105.07 / USD compared to the 104.4 JPY / USD set yesterday, while the Australian dollar also depreciated and traded 1 AUD for 0.7125 USD compared to the level 1. AUD / 0.725 USD is usually seen early in the week.
Oil prices on the Asian market went down this afternoon. Futures prices for Brent crude fell 0.6% to $ 41.47 / barrel, while the US crude futures price dropped by 0.75% to $ 39.50 / barrel.