Asian stocks rise ahead of Fed meeting

Dhaka,  Sat,  23 September 2017
Published : 13 Jun 2017, 13:11:51

Asian stocks inch higher ahead of Fed meeting

Asian stocks rise ahead of Fed meeting
Asian stock markets were higher on Tuesday as investors brushed off a second straight session of big losses on Wall Street tech stocks a day before the Federal Reserve is expected to raise interest rates.

Japan's Nikkei 225 was flat at 19,912.60 and South Korea's Kospi rose 0.6 per cent to 2,372.60. Hong Kong's Hang Seng advanced 0.4 per cent to 25,802.45.

The Shanghai Composite Index was up 0.2 per cent to 3,147.63. Australia's S&P/ASX 200 jumped 1.4 per cent to 5,753.90. Stocks in Taiwan, Singapore and Indonesia were higher, but in the Philippines, the benchmark index fell.

US stocks fell again on Monday as tech stocks recorded sharp losses for a second straight day. The S&P 500 index dipped 0.1 per cent to 2,429.39. 

The Dow Jones industrial average lost 0.2 per cent to 21,235.67, and the Nasdaq composite dropped 0.5 per cent to 6,175.46.

Benchmark US crude added 23 cents to $46.31 per barrel on electronic trading in New York Mercantile Exchange. The contract added 25 cents to close at $46.08 a barrel on Monday. 

Brent crude, used to price international oils, added 28 cents to $48.57 per barrel in London. It closed up 14 cents at $48.29 a barrel in the previous session.

The dollar gained to 110.04 yen from 109.95, while the euro weakened to $1.119 from $1.120. The British pound stabilised after recent falls and was trading at $1.2665, up 0.1 per cent, reports AP.
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