Asia stocks slip as suspense builds for China, Fed news

SYDNEY : Asian stocks were subdued on Wednesday as a lack of new stimulus steps from Beijing frustrated investors, who were also wondering just how hawkish the world's most powerful central banker would chose to be later in the session.

"The focus is on whether the July meeting is truly"live" and if the Fed dot plot of two more hikes is a true base case depending on the data, or doom-mongering on inflation in an effort to ensure no premature easing in financial conditions," said Tapas Strickland, head of market economics at NAB. Japan's Nikkei inched up 0.1 per cent as the market consolidates three months of hefty gains. A survey showed morale at big Japanese manufacturers edged up in June to stay in positive territory for a second straight month.

That lack of urgency should limit any bounce in the yen and kept the dollar underpinned at 141.56 yen, only just off Tuesday's seven-month high of 142.26.

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