Forex Marketz Daily Forex News – Fully Markets Update
Asian markets were mixed this morning after the bourses on Wall Street finished lower. This follows the release of the latest monetary policy meeting minutes of the Federal Open Markets Committee.
In Australia, the S&P ASX 200 reversed early gains to trade lower, down 0.2 percent. The heavily weighted financial sub index lost 0.16 percent and the energy sector lost 1.19 percent. The materials sector was up 0.21 percent.
The Big 4 banks were lower this morning. Commonwealth Bank fell about 0.24 percent, Westpac lost 0.46 percent and the National Australia Bank was down 0.14 percent. Shares of ANZ were trading down by 0.25 percent.
The Asian benchmark, in Japan, the Nikkei 225 shed 1.4 percent. The broader Topix index lost 1.18 percent. In South Korea, the Kospi composite indexes was down 0.56 percent.
In China markets reopened after being closed for the Lunar New Year Holiday period. The Shanghai composite gained 1.31 percent and the Shenzhen composite rose 0.84 percent.
Elsewhere, in the Asian trade zone, Hong Kong’s Hang Seng index (HSI0 shed almost 1.48 percent. In Taiwan, the Taiex lost 0.82 percent.
Asian Investors Study the FOMC Minutes
In the headlines, investors are digesting the last FOMC monetary policy meeting minutes from their January meeting. Fed officials noted increased economic growth and a rise in inflation. This is their justification to continue raising interest rates in 2018 at a gradual pace.
There were members of the Federal Open Market Committee that did not see the need for aggressive monetary policy or the need to raise rates at the meeting.
