Global Markets: Asian shares mixed as earnings fail to inspire before Fed – News 24-7 Live News 24-7 Live
Global Markets: Asian shares mixed as earnings fail to inspire before Fed

Global Markets: Asian shares mixed as earnings fail to inspire before Fed

Asian shares were mixed on Wednesday as already high valuations discouraged investors from buying equities ahead of a closely-watched US Federal Reserve meeting. MSCI’s broadest index of Asia-Pacific shares outside Japan declined 0.23 percent. Australian stocks rose 0.55 percent, but shares in China slipped 0.44 percent. Stocks in Tokyo edged 0.16 percent higher. S&P 500 e-mini stock futures rose 0.09 percent.

Fed Chairman Jerome Powell is expected to reaffirm that easy monetary policy will remain in place for a prolonged period and dismiss any suggestions of tapering bond purchases.US President Joe Biden will also address a joint session of Congress, where he may make additional comments about infrastructure and stimulus spending.

These developments would normally be a positive for stocks, but analysts say so much economic optimism is already priced into the equity market that it is difficult to buy stocks further from current levels.

News Source: CNBC TV 18

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