Asian stocks mostly dip on reluctance in Fed minutes

Thursday, 22. August 2019 08:09

Investors lacked enthusiasm regarding the direction for equities on Thursday toward the end of the session in Asia as focus remained on the trade war between the United States and China, but also the growing race in stimulus by the world's major central banks and the chronic Brexit pains and the Italian political crisis.

Before the annual symposium in Jackson Hole, Wyoming, the Federal Reserve showed in the minutes from the previous meeting that it was far from unanimous in the decision to lower the main rate range by 25 basis points. Furthermore, most policymakers saw the move as "midcycle adjustment" against massive bets that they would open the door for more easing. Oil fell and precious metals were slightly in the red while the Treasury yield curve was threatening to invert at a key section again.

Japan's Nikkei 225 was 0.1% lower at 7:45 am CET after disappointing data on manufacturing and the industry. The dollar was down 0.24% at 8:06 am CET, buying ¥106.362, and grew by 0.23% to 7.08364 offshore yuan. The session high, at 7.08814, was the strongest mark since March 2008. The Hang Seng was 0.89% in the hole in Hong Kong. The Shanghai Composite retreated 0.21% at 7:52 am CET and the Shenzhen Composite was flat. South Korea's Kospi dipped 0.44%. The Australian S&P/ASX 200 earlier gained 0.38% for the day.

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