Asian stocks mixed on caution ahead of Fed’s Jackson Hole meet
|Shares in Asia are trading mixed as investors remain cautious ahead of the US Fed Jackson Hole Symposium, where Fed’s Yellen is scheduled to speak.
At the time of writing, Japan’s Nikkei index was down 0.25% on account of the failure on the part of Yen bears to produce a meaningful rise in USD/JPY pair above 100.00 levels. Stocks in Australia were flat, while those in New Zealand were up 0.31%. Hong Kong’s Hang Seng was trading flat as well. Meanwhile, shares in Shanghai Composite Index were down 1.07%.
Decline in oil prices hurt stocks in Australia and other Asian nations. Chinese oil shares suffered sharp losses after posting disappointing results.
Traders are focused on what US Fed Chairwoman Janet Yellen will say at her speech at Jackson Hole on Friday. Markets expect Yellen to maintain a neutral/data dependent stance regarding the timing of the next rate hike.
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