SINGAPORE — Shares in Asia-Pacific were mixed in Wednesday trade as investors looked ahead to data releases in China as well as the U.S. Federal Reserve’s interest rate decision.
Mainland Chinese stocks led losses among the region’s major markets, with the Shenzhen component plunging 2.014% by the afternoon. The Shanghai composite also shed 0.77%. Hong Kong’s Hang Seng index fell 0.23%.
China is set to announce economic data, including industrial production and retail sales for May, at 3:00 p.m. HK/SIN on Wednesday.
In Japan, the Nikkei 225 slipped 0.39% while the Topix index gained 0.19%. Japan’s exports in May rose 49.6% from a year earlier, data from the country’s Ministry of Finance showed Wednesday. That was lower than a 51.3% increase expected by economists in a Reuters poll.
South Korea’s Kospi edged 0.58% higher. Australian stocks advanced as the S&P/ASX 200 gained 0.18%.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.25%.
Fed decision ahead
Overnight stateside, the S&P 500 slipped 0.2% to 4,246.59 while the Dow Jones Industrial Average declined 94.42 points to 34,299.33. The Nasdaq Composite shed 0.71% to 14,072.86.
The losses on Wall Street came as investors looked ahead to end of the U.S. Federal Reserve’s two-day policy meeting that started Tuesday. While the central bank is not expected to take any action, traders will watch for comments on inflation and the Fed’s eventual tapering plans.
Currencies and oil
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 90.533 after following a recent jump above 90.6.
The Japanese yen traded at 110.06 per dollar, having weakened earlier this week from levels below 109.8 against the greenback. The Australian dollar changed hands at $0.7694 as it struggles to recover after a slip from the $0.772 level earlier in the week.
Oil prices were higher in the afternoon of Asia trading hours, with international benchmark Brent crude futures up 0.96% to $74.70 per barrel. U.S. crude futures gained 0.87% to $72.75 per barrel.
Here’s a look at what’s on tap:
- China: Industrial production, retail sales and fixed asset investment data for May at 3:00 p.m. HK/SIN
Source: CNBC