Equities in Asia-Pacific trade lower on Fed update

Markets 11/9/2018, 8:11 AM
Equities in Asia-Pacific trade lower on Fed update

Stocks weakened across the board in the overnight session on Friday and the People's Bank of China continued to weaken the yuan's official level, setting the benchmark mid-rate at 6.9329 per dollar, compared to 6.9163 from one day before. Traders in Asia-Pacific were cautious after the United States Federal Reserve warned of a slowdown in corporate expenditure, but still expressed determination to raise interest rates further. China's President Xi Jinping attempted to ease trade tensions with the United States, delivering conciliatory remarks amid a comprehensive diplomatic push from the government in Beijing.

Japanese Nikkei 225 index closed 1.05% in the red. South Korean Kospi Composite was down 0.31% at 7:32 am CET. China's Shanghai Composite finished 1.39% in negative territory, compared to a loss of 0.44% in Shenzhen Composite at 7:53 am CET. Hong Kong's Hang Seng fell 2.35% at 7:42 am CET. Earlier, the Australian S&P/ASX 200 ended just 0.11% below the flat line.

The dollar slipped 0.08% at 8:10 am CET, to ¥113.898. Gold declined 0.43% to $1,218.57 per ounce.

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Share:

USD/JPY-0.68%

112.8030
Chart for: USD/JPY Spot

Australia 200...-0.37%

5,725.50
Chart for: Australia 200 Index

SSE Composite...+0.41%

2,679.11
Chart for: SSE Composite Index

Hong Kong 50 ...+0.12%

26,134.50
Chart for: Hong Kong 50 Index

KOSPI Composi...+0.21%

2,092.40
Chart for: KOSPI Composite Index

Japan 225 Ind...-0.71%

21,753.00
Chart for: Japan 225 Index