Investing.com - Asian stocks were mixed in Wednesday’s session as traders took a step back from riskier assets to assess the next monetary policy action out of the Federal Reserve.
In Asian trading Wednesday, Japna’s Nikkei 225 fell 0.31% as USD/JPY traded slightly lower. The yen caught a bid due its safe-haven status, which makes the currency more attractive in uncertain market environments.
Earlier Wednesday, the Bank Of Japan said that Japan’s corporate services price index remain unchanged last month. The July number was revised up to 0.6% from 0.4%. Analysts expected an August reading of 0.5%.
Hong Kong’s Hang Seng rose 0.19%. Since bottoming in late June, the Hang Seng and Shanghai Composite have surged an average of 15% due to a spate of encouraging Chinese economic data points.
During Wednesday’s Asian session, it was reported that talks between Chinese Internet giant Alibaba and Hong Kong listing authorities broke down and that the company is mulling listing its upcoming initial public offering in the U.S.
Australia’s S&P/ASX 200 jumped 0.8%. In U.S. economic news out Tuesday, the S&P/Case-Shiller Home Price Index, which measures home prices in 20 U.S. metro areas, rose 12.4% in July on a year-over-year basis.
That was inline with economists’ expectations. Prices rose 0.6% from June to July, but economists expected an increase of 0.8%. Thirty-year mortgage rates have risen to about 4.5% from 3.3% at the start of this year.
The Conference Board said its consumer confidence index fell to 79.7 in September from 81.8 in August. The June reading of 82.1 was the highest in five and a half years.
New Zealand’s NZSE 50 jumped 1.03% even after Statistics New Zealand said the country’s trade balance unexpectedly fell to negative NZD1.19 billion last month from negative NZD774 million in the prior month. Analysts expected an August reading of negative NZD743 million.
South Korea’s Kospi dropped 0.71% while Singapore’s Straits Times Index inched down 0.08%. S&P 500 futures nudged down 0.03% a day after the benchmark U.S. index lost 0.26%.
In Asian trading Wednesday, Japna’s Nikkei 225 fell 0.31% as USD/JPY traded slightly lower. The yen caught a bid due its safe-haven status, which makes the currency more attractive in uncertain market environments.
Earlier Wednesday, the Bank Of Japan said that Japan’s corporate services price index remain unchanged last month. The July number was revised up to 0.6% from 0.4%. Analysts expected an August reading of 0.5%.
Hong Kong’s Hang Seng rose 0.19%. Since bottoming in late June, the Hang Seng and Shanghai Composite have surged an average of 15% due to a spate of encouraging Chinese economic data points.
During Wednesday’s Asian session, it was reported that talks between Chinese Internet giant Alibaba and Hong Kong listing authorities broke down and that the company is mulling listing its upcoming initial public offering in the U.S.
Australia’s S&P/ASX 200 jumped 0.8%. In U.S. economic news out Tuesday, the S&P/Case-Shiller Home Price Index, which measures home prices in 20 U.S. metro areas, rose 12.4% in July on a year-over-year basis.
That was inline with economists’ expectations. Prices rose 0.6% from June to July, but economists expected an increase of 0.8%. Thirty-year mortgage rates have risen to about 4.5% from 3.3% at the start of this year.
The Conference Board said its consumer confidence index fell to 79.7 in September from 81.8 in August. The June reading of 82.1 was the highest in five and a half years.
New Zealand’s NZSE 50 jumped 1.03% even after Statistics New Zealand said the country’s trade balance unexpectedly fell to negative NZD1.19 billion last month from negative NZD774 million in the prior month. Analysts expected an August reading of negative NZD743 million.
South Korea’s Kospi dropped 0.71% while Singapore’s Straits Times Index inched down 0.08%. S&P 500 futures nudged down 0.03% a day after the benchmark U.S. index lost 0.26%.