Investing.com - Asian stock markets were broadly lower on Thursday, amid speculation the Federal Reserve could start tapering its bond-buying program sooner-than-expected.
During late Asian trade, Hong Kong's Hang Seng Index climbed 1.25%, Australia’s ASX/200 Index ended 0.28% higher, while Japan’s Nikkei 225 Index closed up 1.23%.
The Fed said on Wednesday that it would keep buying USD85 billion a month in mortgage and Treasury securities in order to safeguard the faltering economic recovery.
Fed officials stuck to the view that the economy is expanding "at a moderate pace" and said downside risks were diminishing, sparking speculation the central bank could start tapering stimulus at its December meeting.
In Tokyo, the Nikkei extended losses after the Bank of Japan made no changes to its monetary easing policy at the conclusion of its two-day meeting.
The BoJ affirmed plans to increase the monetary base at an annual pace of about JPY60 trillion to JPY70 trillion.
The central bank kept its inflation forecast steady, expecting core consumer inflation in fiscal 2015 to hit 1.9%.
The BoJ raised its growth projection for the fiscal year beginning April 2014 from 1.3% to 1.5%.
USD/JPY traded at 98.38 during late Asian trade, moving off the previous session’s high of 99.66.
Meanwhile, in Hong Kong, the Hang Seng declined as traders looked ahead to key manufacturing data out of China later in the week to gauge the strength of the world’s second-largest economy.
The government will release the official manufacturing purchasing managers' index for October on Friday, while HSBC will also produce final data on its purchasing managers' index for October on Friday.
Chinese lenders were mostly lower following the release their quarterly earnings. Industrial and Commercial Bank of China lost 1.6%, while China Minsheng Bank slumped 2.5%.
Elsewhere, in Australia, the ASX/200 Index eased off the previous session’s five-year high.
National Australia Bank fell 2.5% after the lender posted full-year earnings that were largely in line with market expectations.
The results weighed on other shares in the sector, with Westpac Banking Group down 1.75% and Commonwealth Banking Group falling 1.2%.
Looking ahead, European stock market futures pointed to a lower open, after the Federal Reserve was less pessimistic than expected in its assessment of the economy, following its latest policy meeting.
The EURO STOXX 50 futures pointed to a loss of 0.45% at the open, France’s CAC 40 futures dipped 0.4%, London’s FTSE 100 futures indicated a drop of 0.35%, while Germany's DAX futures pointed to a loss of 0.3% at the open.
During late Asian trade, Hong Kong's Hang Seng Index climbed 1.25%, Australia’s ASX/200 Index ended 0.28% higher, while Japan’s Nikkei 225 Index closed up 1.23%.
The Fed said on Wednesday that it would keep buying USD85 billion a month in mortgage and Treasury securities in order to safeguard the faltering economic recovery.
Fed officials stuck to the view that the economy is expanding "at a moderate pace" and said downside risks were diminishing, sparking speculation the central bank could start tapering stimulus at its December meeting.
In Tokyo, the Nikkei extended losses after the Bank of Japan made no changes to its monetary easing policy at the conclusion of its two-day meeting.
The BoJ affirmed plans to increase the monetary base at an annual pace of about JPY60 trillion to JPY70 trillion.
The central bank kept its inflation forecast steady, expecting core consumer inflation in fiscal 2015 to hit 1.9%.
The BoJ raised its growth projection for the fiscal year beginning April 2014 from 1.3% to 1.5%.
USD/JPY traded at 98.38 during late Asian trade, moving off the previous session’s high of 99.66.
Meanwhile, in Hong Kong, the Hang Seng declined as traders looked ahead to key manufacturing data out of China later in the week to gauge the strength of the world’s second-largest economy.
The government will release the official manufacturing purchasing managers' index for October on Friday, while HSBC will also produce final data on its purchasing managers' index for October on Friday.
Chinese lenders were mostly lower following the release their quarterly earnings. Industrial and Commercial Bank of China lost 1.6%, while China Minsheng Bank slumped 2.5%.
Elsewhere, in Australia, the ASX/200 Index eased off the previous session’s five-year high.
National Australia Bank fell 2.5% after the lender posted full-year earnings that were largely in line with market expectations.
The results weighed on other shares in the sector, with Westpac Banking Group down 1.75% and Commonwealth Banking Group falling 1.2%.
Looking ahead, European stock market futures pointed to a lower open, after the Federal Reserve was less pessimistic than expected in its assessment of the economy, following its latest policy meeting.
The EURO STOXX 50 futures pointed to a loss of 0.45% at the open, France’s CAC 40 futures dipped 0.4%, London’s FTSE 100 futures indicated a drop of 0.35%, while Germany's DAX futures pointed to a loss of 0.3% at the open.