Japan – Korea stocks reversed after the Fed announced the content of the policy meeting
Asia – Pacific stocks struggled to gain points in the morning session of November 26 in response to investors’ reaction to the content of the November policy meeting that the Fed has just announced.
|Japan’s Nikkei 225 index turned back to increase 0.45% in the morning session of November 26. Photo: AFP|
Mainland Chinese stocks were tinged in red this morning with the Shanghai Composite Index slipping 0.3 percent while the Shenzhen Component Index slipped more than 0.95 percent. In contrast, the Hong Kong market stayed in green with the Hang Seng Index inching up 0.11%.
Green was also maintained on the Japanese stock market. Immediately after the 0.1% decline, the Nikkei 225 turned back up 0.45%, while the Topix index also reversed and increased 0.66% after slipping 0.27% earlier.
Korean stocks also reversed this morning and rose 0.3%. Meanwhile, Australian stocks are still in red with the S & P / ASX 200 index decreased slightly by 0.17%. Overall, the MSCI Asia-Pacific Index (excluding Japan) still increased slightly by 0.28%.
The Asia-Pacific stock market was mixed after the US Federal Reserve (Fed) released a summary of the policy meeting in early November. The minutes of the meeting indicated that the Fed officials have discussed how to pump more money into the economy that is still recovering under the effects of the Covid-19 pandemic.
US stocks quickly reversed last night after the previous peak trading day. The Dow Jones industrial average lost 173.77 points to close at 29,872.47, while the S&P 500 index slipped 0.2% and closed the trading day at 3,629.65 after reaching the highest mark. history for the previous trading day. The Nasdaq Composite maintained the previous day’s gain and closed up 0.5% to 12,094.40 points.
Money market today continues to see the greenback weaken. The US dollar index against other major currencies fell to 91,994, from 92.4 levels set earlier this week. The Japanese yen also slipped to 104.38 JPY / USD, compared to 104 JPY / USD earlier this week, while the Australian dollar strengthened and traded 1 AUD / 0.7363 USD.
The Central Bank of Korea this morning announced its decision to keep interest rates as low as 0.5%, as forecasted by economists with Reuters earlier. After this announcement, South Korean won price and transaction 1,104.85 USD “eat” 1 USD, compared with 1,107.30 USD / USD set earlier.
Oil prices on the Asian market this morning went up. Futures prices for Brent crude rose 0.8% to $ 49 / barrel, while the US crude futures price edged up 0.66% to $ 46.01 / barrel.