Asian stocks recover ahead of Fed, Nikkei 225 bounces over +1%
|The Asian markets attempt a minor-recovery after yesterday’s heavy losses, mainly driven by solid rebound in the Japanese stocks as yen lost footing against its American counterpart.
Rest of Asia rose as investors cheered upbeat economic releases out of Australia and China, with the Australian trimmed mean CPI better expectations, while the Chinese industrial profits rose 5.1% y/y in June versus 3.7% seen in May.
However, the recovery appears to lack momentum as markets remain unnerved heading towards the much-awaited Fed interest rates decision due later in the American afternoon.
Meanwhile, the Japanese benchmark index, the Nikkei 225 jumps +1.30% to 16,594, on the back of a stronger USD/JPY, up +0.50% on the day. The Australian markets follow suit, with the S&P/ASX 200 now trading modestly higher around 5,540 points.
The Chinese equities waver between gains and losses, with the benchmark Shanghai Composite index up 0.05%; the CSI300 index trades almost unchanged around 3,270. While Hong Kong markets rise +0.48% to 22,222 levels.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.