Asian equity markets ended mostly in red on Monday as investors awaited central bank meetings in the US, UK, and Japan due this week. The Federal Reserve is widely expected to raise interest rates by 25 bps when it announces its monetary policy decision on Wednesday; however, no changes are expected from the Bank of England and the Bank of Japan. The UK general election result created uncertainty over the policy platform, political cohesion and longevity of the next UK government, Fitch Ratings said. This will have implications for Brexit as well as potentially fiscal policy, the agency said. Meanwhile, markets in Malaysia were closed today for public holidays. French President Emmanuel Macron's party won an overwhelming majority in the first round of parliamentary elections, helping limit regional losses to some extent. Chinese shares ended lower, with worries over tighter credit and slowing growth weighing on markets. Further, Japanese shares ended lower as the yen firmed up in morning trade and official data showed the country's core machinery orders, a popular proxy of capital spending, fell more than expected in April amid a slowdown in construction and public sector investment.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,139.88 | -18.52 | -0.59 |
Hang Seng | 25,708.04 | -322.25 | -1.24 |
Jakarta Composite | 5,691.44 | 15.91 | 0.28 |
KLSE Composite | - | - | - |
Nikkei 225 | 19,908.58 | -104.68 | -0.52 |
Straits Times | 3,248.34 | -5.85 | -0.18 |
KOSPI Composite | 2,357.87 | -23.82 | -1.00 |
Taiwan Weighted | 10,109.96 | -89.69 | -0.88 |
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