Asian stocks seesaw as traders hold breath before Fed meeting
By Stanley White
Reuters
TOKYO (Reuters) - Asian shares struggled to make firm gains on Wednesday as already high valuations discouraged investors from buying equities ahead of a closely-watched U.S. Federal Reserve meeting.
MSCI s broadest index of Asia-Pacific shares outside Japan declined 0.12%. Australian stocks rose 0.47%, but shares in China slipped 0.06%. South Korean stocks fell 0.99%. Stocks in Tokyo edged 0.46% higher.
S&P 500 e-mini stock futures rose 0.14%.
Euro Stoxx 50 futures were up 0.25%, German DAX futures up 0.16%, FTSE futures up 0.31%, pointing to a positive start to European trading.
Fed Chairman Jerome Powell is expected later on Wednesday to reaffirm that easy monetary policy will remain in place for a prolonged period and dismiss any suggestions of tapering bond purchases.
Asian shares mixed as earnings fail to inspire before Fed
By Stanley White
Reuters
TOKYO (Reuters) - Asian shares were mixed on Wednesday as already high valuations discouraged investors from buying equities ahead of a closely-watched U.S. Federal Reserve meeting.
MSCI s broadest index of Asia-Pacific shares outside Japan declined 0.23%. Australian stocks rose 0.55%, but shares in China slipped 0.44%. Stocks in Tokyo edged 0.16% higher.
S&P 500 e-mini stock futures rose 0.09%.
Fed Chairman Jerome Powell is expected to reaffirm that easy monetary policy will remain in place for a prolonged period and dismiss any suggestions of tapering bond purchases.
U.S. President Joe Biden will also address a joint session of Congress, where he may make additional comments about infrastructure and stimulus spending.
World shares cosied up close to record highs and the dollar and global bond yields nudged up on Wednesday, as traders waited to see if the U.S. Federal Reserve utters the dreaded 'T' word later - tapering of its mass stimulus programme.
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