Asian stock markets were mixed on Wednesday as investors took a wait-and-see attitude after yesterday’s losses on Wall Street and ahead of the central bankers’ meeting at the end of the week.
Inflation worries continue to weigh on investor sentiment, with investors awaiting statements from key officials at the Federal Reserve’s annual conference in Jackson Hole, Wyoming for clues on the next rate hikes. Fed Chairman Jerome Powell will address the conference on Friday, with analysts expecting the US central bank governor to reiterate that the main goal is to fight inflation, despite risks to the economy from large interest rate hikes.
On the board, the Japanese Nikkei 225 loses 0.4% to 28,346.02 points.
In Hong Kong, the Hang Seng is down 1.2%, while in mainland China, Shanghai is down 1.4%. Indexes in Singapore and Taiwan also fell.
South Korea’s Kospi and S&P/ASX 200 gain 0.5%.
On Wall Street, indexes completed three consecutive negative sessions yesterday amid growing concerns that the Federal Reserve will continue aggressive rate hikes despite a slowing economy. Data released yesterday showed a further slowdown in private sector activity in August, with the composite PMI falling to 45.0 from 47.7 in July.
Source: Capital
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