Investing.com - Asian stocks were mixed to lower on Thursday, disappointed that U.S. Fed Chairman Ben Bernanke ruled out for now fresh stimulus measures to spark more economic activity.
During Asian trading on Thursday, Hong Kong's Hang Seng Index was down 0.38%, Australia's S&P/ASX200 was down 0.67%, while Japan’s Nikkei 225 Index was up 0.50%.
In the U.S. earlier, Fed Chairman Ben Bernanke told lawmakers the U.S. economy didn't require new stimulus measures such as quantitative easing, which are asset purchases from banks designed to push interest rates down and steer the economy away from deflation and towards growth and hiring.
As a side effect of such policies, stock prices climb, and when Bernanke doused hopes of such measures becoming reality, stocks fell after opening in Asia.
The U.S. economy, meanwhile, grew 3% in the fourth quarter of last year, more than expected, while the European Central Bank is currently providing low-cost loans to banks in order to ease credit conditions there and inject more life into the financial system.
Both factors offset Beranke's comments.
The ECB provided EUR529 billion in three-year loans to European banks after receiving bids from 800 institutions, much more than the central bank's first long-term refinancing operation late last year.
The money aims to ease credit conditions in Europe and stimulate the economy.
In Hong Kong, the top decliners included China Overseas, down 4.24%, New World Development, down 3.46%, and Bank of East Asia, down 2.08%.
In Australia, the top decliners included Henderson Group, down 7.13%, Independence Group, down 5.79%, and Gunns Limited, down 5.41%.
European stock futures indicated a mixed opening.
France's CAC 40 futures pointed to a loss of 0.02%, while Germany ’s DAX 30 futures signaled a loss of 0.03%. Meanwhile, in the U.K., the FTSE 100 futures indicated a gain of 0.08%.
Dow Jones Industrial Average futures were down 0.09% while the S&P 500 futures were down 0.17%.
Later Thursday, European Union leaders are to hold the first day of a two-day summit meeting in Brussels.
The U.S. is to release government data on initial jobless claims as well as personal consumption expenditures and personal spending.
Meanwhile, the Institute for Supply Management is to unveil its latest index on manufacturing activity.
In addition, Fed Chairman Bernanke is due to testify for a second day before the Senate Banking Committee.
Japan is set to release inflation figures and unemployment data.
During Asian trading on Thursday, Hong Kong's Hang Seng Index was down 0.38%, Australia's S&P/ASX200 was down 0.67%, while Japan’s Nikkei 225 Index was up 0.50%.
In the U.S. earlier, Fed Chairman Ben Bernanke told lawmakers the U.S. economy didn't require new stimulus measures such as quantitative easing, which are asset purchases from banks designed to push interest rates down and steer the economy away from deflation and towards growth and hiring.
As a side effect of such policies, stock prices climb, and when Bernanke doused hopes of such measures becoming reality, stocks fell after opening in Asia.
The U.S. economy, meanwhile, grew 3% in the fourth quarter of last year, more than expected, while the European Central Bank is currently providing low-cost loans to banks in order to ease credit conditions there and inject more life into the financial system.
Both factors offset Beranke's comments.
The ECB provided EUR529 billion in three-year loans to European banks after receiving bids from 800 institutions, much more than the central bank's first long-term refinancing operation late last year.
The money aims to ease credit conditions in Europe and stimulate the economy.
In Hong Kong, the top decliners included China Overseas, down 4.24%, New World Development, down 3.46%, and Bank of East Asia, down 2.08%.
In Australia, the top decliners included Henderson Group, down 7.13%, Independence Group, down 5.79%, and Gunns Limited, down 5.41%.
European stock futures indicated a mixed opening.
France's CAC 40 futures pointed to a loss of 0.02%, while Germany ’s DAX 30 futures signaled a loss of 0.03%. Meanwhile, in the U.K., the FTSE 100 futures indicated a gain of 0.08%.
Dow Jones Industrial Average futures were down 0.09% while the S&P 500 futures were down 0.17%.
Later Thursday, European Union leaders are to hold the first day of a two-day summit meeting in Brussels.
The U.S. is to release government data on initial jobless claims as well as personal consumption expenditures and personal spending.
Meanwhile, the Institute for Supply Management is to unveil its latest index on manufacturing activity.
In addition, Fed Chairman Bernanke is due to testify for a second day before the Senate Banking Committee.
Japan is set to release inflation figures and unemployment data.