Investing.com - Asian stock markets were mixed on Tuesday, as investors remained cautious ahead of the Federal Reserve's highly anticipated policy meeting due to begin later in the day.
During late Asian trade, Hong Kong's Hang Seng Index eased down 0.2%, Australia’s ASX/200 Index ended 0.57% lower, while Japan’s Nikkei 225 Index closed 0.83% higher.
Market players turned their attention to the outcome of the Fed’s upcoming policy meeting on Wednesday, with some expecting the central bank to announce a small reduction in the pace of its USD85 billion-a-month asset purchase program.
The Fed’s stimulus program is viewed by many investors as a key driver in boosting the price of global equities.
In Tokyo, the Nikkei bounced off the previous session’s two-week low as traders continued to monitor movements in the currency market.
USD/JPY rose to hit a daily high of 103.10, moving off the previous session’s low of 102.63. A weaker yen increases the value of overseas income at Japanese companies when repatriated, improving the outlook for export earnings.
Automakers Toyota and Honda saw shares rise 0.7% and 0.75% respectively, while Sharp and Fanuc advanced 0.6% and 1.65%.
Index heavyweights Fast Retailing and Softbank saw shares climb 1.5% and 1.75% respectively.
Meanwhile, in Hong Kong, the Hang Seng swung between small gains and losses in cautious trade as investors positioned ahead of the outcome of the Fed’s policy meeting.
Shares in the financial sector were under pressure, with China Construction Bank shares dropping 0.5%, Industrial and Commercial Bank of China falling 0.6% and China Minsheng Bank declining 0.7%.
Elsewhere, in Australia, the ASX/200 Index ended lower after minutes of the Reserve Bank of Australia’s December policy meeting showed that the central bank was prudent to keep rates steady to gauge the effect of previous cuts.
Looking ahead, European stock market futures pointed to a lower open as market players prepared for this week’s Federal Reserve meeting and possible news on the fate of the central bank’s bond-buying program.
The EURO STOXX 50 futures pointed to a loss of 0.1% at the open, France’s CAC 40 futures shed 0.2%, London’s FTSE 100 futures indicated a decline of 0.1%, while Germany's DAX futures pointed to a loss of 0.1%.
The ZEW Institute is to release its closely watched report on German economic sentiment later in the day, while the euro zone is to publish data on consumer inflation.
Across the Atlantic, U.S. equity markets pointed to a steady open. The Dow Jones Industrial Average futures pointed to a gain of 0.05%, S&P 500 futures signaled a 0.05% drop, while the Nasdaq 100 futures indicated a flat open.
The U.S. is to release data on consumer inflation and the current account.
During late Asian trade, Hong Kong's Hang Seng Index eased down 0.2%, Australia’s ASX/200 Index ended 0.57% lower, while Japan’s Nikkei 225 Index closed 0.83% higher.
Market players turned their attention to the outcome of the Fed’s upcoming policy meeting on Wednesday, with some expecting the central bank to announce a small reduction in the pace of its USD85 billion-a-month asset purchase program.
The Fed’s stimulus program is viewed by many investors as a key driver in boosting the price of global equities.
In Tokyo, the Nikkei bounced off the previous session’s two-week low as traders continued to monitor movements in the currency market.
USD/JPY rose to hit a daily high of 103.10, moving off the previous session’s low of 102.63. A weaker yen increases the value of overseas income at Japanese companies when repatriated, improving the outlook for export earnings.
Automakers Toyota and Honda saw shares rise 0.7% and 0.75% respectively, while Sharp and Fanuc advanced 0.6% and 1.65%.
Index heavyweights Fast Retailing and Softbank saw shares climb 1.5% and 1.75% respectively.
Meanwhile, in Hong Kong, the Hang Seng swung between small gains and losses in cautious trade as investors positioned ahead of the outcome of the Fed’s policy meeting.
Shares in the financial sector were under pressure, with China Construction Bank shares dropping 0.5%, Industrial and Commercial Bank of China falling 0.6% and China Minsheng Bank declining 0.7%.
Elsewhere, in Australia, the ASX/200 Index ended lower after minutes of the Reserve Bank of Australia’s December policy meeting showed that the central bank was prudent to keep rates steady to gauge the effect of previous cuts.
Looking ahead, European stock market futures pointed to a lower open as market players prepared for this week’s Federal Reserve meeting and possible news on the fate of the central bank’s bond-buying program.
The EURO STOXX 50 futures pointed to a loss of 0.1% at the open, France’s CAC 40 futures shed 0.2%, London’s FTSE 100 futures indicated a decline of 0.1%, while Germany's DAX futures pointed to a loss of 0.1%.
The ZEW Institute is to release its closely watched report on German economic sentiment later in the day, while the euro zone is to publish data on consumer inflation.
Across the Atlantic, U.S. equity markets pointed to a steady open. The Dow Jones Industrial Average futures pointed to a gain of 0.05%, S&P 500 futures signaled a 0.05% drop, while the Nasdaq 100 futures indicated a flat open.
The U.S. is to release data on consumer inflation and the current account.