Taking clues from the Wall Street, Asian stocks dropped Wednesday as markets await the Federal Reserve’s policy statement later in the day.
The MSCI Asia Pacific Index slid by 0.6%. The Shanghai Composite Index lost 0.1%, while the Hang Seng Index erased 0.3%. South Korea’s Kospi fell 0.3%. Japan’s Nikkei climbed 0.6%.
You must notice such data coupled with what banks have done with tightening up in conditions must raise the “risk of a move before year end,” said Su-Lin Ong, Senior Economist at RBC Capital Markets.
She was pertaining to Australian major banks increasing their variable mortgage rates to counter stricter regulatory capital requirements.
On Wall Street, the Dow Jones Industrial Average slipped 0.2% and the S&P 500 retreated 0.3%.
The material has been provided by InstaForex Company – www.instaforex.com