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Asian stocks fell due to hesitation in the FOMC minutes

2019-08-22 06:38 am | Resource: News | No Views : 23

Asian stocks fell due to hesitation in the FOMC minutes
 
Investors lacked enthusiasm for the direction of stocks on Thursday near the end of the session in Asia as the focus remained on the trade war between the US and China, but also the growing race of stimulus from the world's major central banks and the pain of Brexit. And the Italian political crisis.

Prior to the annual symposium in Jackson Hole, Wyoming, the Fed showed in the minutes of the previous meeting that it was not unanimous in the decision to cut the key price range by 25 basis points. Moreover, most policymakers saw the move as a "mid-cycle adjustment" against the huge bets that will open the door for further easing. Oil fell and precious metals were in the red slightly while the Treasury yield curve threatened to reverse in a major section again.

Japanese industrial activity fell in June

Industrial activity in Japan fell 0.8% in June from the previous month and was slightly below analysts' expectations, according to a report by the Ministry of Economy, Trade and Industry on Thursday. The seasonally adjusted industrial activity index for the second quarter of 2019 was 106.4, up 0.5 points qoq.

In June, the construction activity index fell 0.06% over the previous month, while the tertiary sector lost 0.07% simultaneously. Industrial production witnessed the largest decline during the same time frame, falling by 0.68% on a monthly basis, reaching 100.9.

Asian shares trading
  • Japan's Nikkei 225 fell 0.1% at 7:45 am CET after disappointing manufacturing and industry data.
  • The Hsang Sang fell 0.89% in Hong Kong's red zone.
  • The Shanghai Composite fell 0.21% at 7:52 CET
  • The Shenzhen Composite Index was flat.
  • South Korea's Kospi fell 0.44%.
  • The Australian S & P / ASX 200 rose earlier by 0.38% for the day.

 The dollar fell 0.24% against the yen at 8:06 am CET, trading at 106.362 yen, and the dollar rose 0.23% to 7.08364 yuan to hit a session high, at 7.08814, the strongest mark since March 2008. .


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