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Asian Stock Market: Trades lower ahead of Fed rate decision, PBOC's status-quo

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Asian stock markets trade lower on Wednesday as investors await the highly-anticipated Federal Reserve interest rate meeting. At press time, China’s S

People's Bank of China held benchmark lending rates unchanged on Wednesday.

Following the PBOC meeting, a Chinese central bank official said that the Chinese central bank would pay more attention to movements in the Yuan exchange rate versus a basket of currencies. The official added that China's monetary policy has considerable capacity to adapt to unforeseen challenges and changes.

Additionally, Japan’s Balance of Trade for August came in at ¥-930.5B, worse than the expectation of ¥-659.1B. Meanwhile, Exports came in at -0.8% YoY versus -0.3% prior, better than expected at -1.7%. Imports improved to -17.8% from -13.6%, beating the estimation of -19.4%.

 

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