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Home / Business / Asian shares slip from 6-month high-ahead of Fed policy decision By Reuters

Asian shares slip from 6-month high-ahead of Fed policy decision By Reuters




© Reuters. A man walks past an electronic stock quotation board in Tokyo

By Hideyuki Sano

TOKYO (Reuters) – Asian shares slipped from six-month highs on Wednesday as investors.

MSCI's broadest index of Asian-Pacific shares outside of Japan dropped 0.4 percent, led by losses in Australia and South Korea.

Japan's shares fell 0.5 percent.

Wall Street shares were narrowly mixed on Tuesday, with the losing 0.01

percent and the Nasdaq adding 0.12 percent. ()

Some market players said that was triggered by a report of U.S.

Still on the whole, many market players on a deal between Washington and Beijing. US Liu He, a trump administration official said on Tuesday.

"China is eager to come to an agreement "I'm not too worried." Said Wang Shenshen, Strategist at Tokai Tokyo Research Center.

Confidence among Asian companies continues near three-year lows in the first quarter Thomson Reuters / INSEAD survey found. [ASIATOPCO/]

Companies listed in the survey the global trade was as the top business

The Fed will focus on its policymakers' rate projections for the next few years.

9659015] Fed Chairman Jerome Powell has said the central bank would be patient – a word about how to reduce economic growth in the United States and many parts of the world.

Financial markets have gone even further down through pricing at a rate this year.

The Fed is also expected to lay off a plan to stop shrinking its $ 4 trillion balance sheet, or so-called quantitative tightening.

"I think market consensus centers around at the end of September but we expect the Fed to end its balance sheet rolloff in June, at around $ 3.85 trillion, based on our calculations on the amount of excess reserves the Fed wants to need, "said Shuji Shirota, head of Macroeconomic Strategy at HSBC Securities in Tokyo.

Expectations of a more cautious Fed have dented the US dollar, which has already been under pressure this year after Powell's all but a pause to the tightening cycle at the previous meeting.

The dollar's index against a basket of six major currencies hit 2 1/2-week low of 96,288 on Tuesday and last stood at 96,465.

The euro traded little at $ 1.1354, near Tuesday's two-week high of $ 1.1362.

The dollar fetched 111.61 yen, up slightly on the day but below Friday's nine-day high of 111.90.

The Australian dollar dipped 0.2 percent to $ 0.7071, as the country's bonds yielded their breakneck decline to multi-year lows on expectations of a cut rate in Australia.

It was not helped by 6-percent fall in China's iron ore prices on expectation of higher supply as Vale SA is set to resume work at its largest iron ore mine in Minas Gerais state.

The British pound remains hostage to headlines on Brexit.

Prime Minister Theresa May has come to terms with the European Union to delay.

Brexit beyond June 30, a step that Brexit's advocates fear would endanger the entire divorce.

On the other hand, the EU's chief negotiator, Michel Barnier, who said he would not make any sense of it, has decided that he will not be able to save his money.

last 196 last peak stood peak flat peak $ peak $ peak 1. peak 1. peak 196 peak 196 peak. 19659004] OPEC would continue to cut through the end of the year and after data from the American Petroleum Institute (API).

U , S. West Texas Intermediate (WTI) futures stood flat at $ 59.02 per barrel after touching their highests since November at $ 59.57 on Tuesday.


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