Asian stocks decline as traders await more cues about Fed's rate-cut path

📆 21/08/2024 06:23:00
📰 FXStreetNews

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Asia,Hangseng,Nikkei

Asian equity markets edge lower on Wednesday, tracking the overnight pullback on Wall Street that snapped an eight-day winning streak.

Asian stocks tack the overnight slide in the US equity markets and retreated on Wednesday. JD.com sinks on report of Walmart stake sale and weighs on Hong Kong’s Hang Seng index. China's economic woes and the recent appreciation in the JPY also dent investors' sentiment. Hong Kong’s Hang Seng Index turned out to be the worst performer, falling 1% for the day amid heavy losses in the e-commerce major JD.com led by the report of Walmart's stake sale.

What are the main sectors represented in Asian stock markets? Asia’s main economies are different, and each has specific sectors to pay attention to. Technology companies dominate in indices in Japan, South Korea, and increasingly, China. Financial services are leading stock markets such as Hong Kong or Singapore, considered key hubs for the sector. Manufacturing is also big in China and Japan, with a strong focus on automobile production or electronics.

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Stock market today: Asian stocks track Wall Street gains ahead of central bank meetingsAsian stocks started the week with gains ahead of central bank policy meetings in the United States and Japan, after a broad rally on Wall Street that capped a tumultuous week. Japan's Nikkei 225 index jumped 2.1%. U.S. futures and oil prices rose. On Friday, the S&P 500 rose 1.1% for its best day in seven weeks.
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Stock market today: Asian stocks track Wall Street gains ahead of central bank meetingsAsian stocks started the week with gains ahead of central bank policy meetings in the United States and Japan, after a broad rally on Wall Street that capped a tumultuous week.
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