Asian stocks turn lower on China woes, Fed uncertainty

FXStreet (Mumbai) – Asian indices are seen trading on a mixed note at the start of a fresh week as mounting China slowdown fears after the recent Chinese economic data and the uncertainty looming over the Fed outlook on the interest rates, keeps the traders on the back foot.

Recent market volatility has caused some forecasters to delay their expected lift-off date, but a large camp of economists still think Thursday will be the big day.

The Japanese benchmark, the Nikkei 225, keeps losses on the back of a renewed strength seen in the yen versus the US dollar, which hurts the exports’ stocks. USD/JPY now trades at 120.49, recording a -0.10% loss on the day while the Nikkei loses -0.50% to 18,173 points.

The Chinese indices have turned negative with the Shanghai Composite losing -1.46% at 3,153 points while the Hong Kong’s benchmark Hang Seng index is down -0.11% at 21,489.

Among other Asian indices, the benchmark Australian S&P/ASX 200 index defends mild gains, up 0.14% at 5,078, with the miners supporting the market. While Korea’s benchmark Kospi index erased declines -0.56% to 1,931 points in Seoul.

Asian indices are seen trading on a mixed note at the start of a fresh week as mounting China slowdown fears after the recent Chinese economic data and the uncertainty looming over the Fed outlook on the interest rates, keeps the traders on the back foot.

(Market News Provided by FXstreet)