Fed rate cut, Indonesian Bank, Japan trade
Vehicles bound for shipment parked in front of the Dream Angel vehicles carrier ship at the Nagoya Port in Nagoya, Japan, on Tuesday, June 18, 2024.
Fred Mery | Bloomberg | Getty Images
Asia-Pacific markets opened mixed on Wednesday, following gains on Wall Street that saw both the S&P 500 and the Dow Jones Industrial Average reach new highs.
Investors await the Federal Reserve’s rate decision due Wednesday stateside, and assessed economic data from Japan. Indonesian central bank’s rate decision is also due later in the day.
Japan’s imports and exports in August rose 2.3% and 5.6%, respectively, from a year ago, according to Japan’s Ministry of Finance, both missing the Reuters poll estimates of 13.4% and 10% growth.
Japan’s private sector machinery orders in July declined 0.1% from the previous month, according to data from the Cabinet Office, missing Reuters estimates of a 0.5% increase.
Bank Indonesia is set to meet Wednesday for a key BI-rate decision. The policy rate stands at its highest level since 2016, even as inflation has cooled to well within the central bank’s 1.5%-3.5% target.
Australia’s S&P/ASX 200 dipped slightly, snapping a four-day winning streak that sent the index to a record high on Tuesday.
Japan’s Nikkei 225 rose 0.74% while the broad-based Topix was 0.48% higher.
Mainland China’s CSI 300 was nearly flat, after closing at its lowest level since January 2019 on Friday.
The Taiwan Weighted Index fell 0.35%.
South Korea and Hong Kong markets are closed today while markets in mainland China will resume trade after a nationwide three-day holiday.
Overnight in the U.S., the S&P 500 notched an intraday record before closing below session highs but still slightly higher on the day at 5,634.58. The Dow Jones Industrial Average fell 0.04% to close at 41,606.18 after touching a fresh record during the session.
The Nasdaq Composite added 0.2% to 17,628.06.
Wall Street assessed the latest retail sales which rose 0.1% in August from the previous month, compared to the Reuters poll forecast of a 0.2% decline.
—CNBC’s Hakyung Kim and Samantha Subin contributed to this report.
#Fed #rate #cut #Indonesian #Bank #Japan #trade