Bitcoin price today: falls to 2-week low below $113k ahead of Fed Jackson Hole
Investing.com-- Asian stock markets were mixed on Wednesday, with Australia gaining on a soft quarterly inflation print, though investors remained cautious ahead of key central bank decisions from the Bank of Japan and the Federal Reserve.
Market participants also remained wary of the approaching U.S. tariff deadline on August 1.
Wall Street indexes ended modestly lower on Tuesday. U.S. stock index futures were muted in Asian trading hours as investors awaited major corporate earnings, including from tech giants dubbed the “Magnificent Seven”.
Trump’s tariff deadline looms; India may face 20%-25% duties
Markets remained on edge ahead of the August 1 deadline when Washington may impose new tariffs if trade deals are not finalised.
President Donald Trump said on Tuesday that India may face U.S. tariffs of 20% to 25%, signaling broader trade tension risks even amid progress with the European Union and China.
Meanwhile, U.S. and Chinese officials resumed talks in Stockholm on Tuesday, aiming to extend their 90‑day tariff truce beyond its expiry on August 12.
Sentiment remains fragile as firms and investors weigh how higher baseline tariffs and uncertainty around the August 1 U.S. deadline may curb growth and margins.
Futures for India’s Nifty 50 edged 0.1% lower on Wednesday.
Aussie stocks gain as soft Q2 CPI bolsters RBA cut bets
In Australia, second-quarter CPI data showed inflation cooled to 2.1% year-on-year, down from 2.4%, while core trimmed‑mean inflation slowed to 2.7%.
The surprisingly soft reading has bolstered expectations of a 25 basis point rate cut by the Reserve Bank of Australia in August.
Australia’s S&P/ASX 200 rose 0.7% on Wednesday.
Elsewhere, South Korea’s KOSPI jumped 0.9% on hopes of a U.S. trade deal before the deadline.
China’s Shanghai Composite index rose 0.7%, while the Shanghai Shenzhen CSI 300 climbed 0.8%.
Hong Kong’s Hang Seng index edged 0.3% lower after trimming some early losses. Singapore’s Straits Times Index ticked down 0.2%.
Fed, BOJ rate decisions loom; Nikkei muted
Investors are now turning to policy actions from the Bank of Japan and the U.S. Federal Reserve.
The BOJ is expected to hold rates steady on Thursday but may offer a brighter economic outlook following Japan’s trade deal with the U.S.
Japan’s Nikkei 225 was largely unchanged on Wedneday, while the broader TOPIX index gained 0.4%.
Fed officials began a two‑day meeting on Tuesday, with a rate decision due on Wednesday. The central bank is widely expected to keep rates at 4.25%‑4.50%.