Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your experience. Save up to 40% More details

Asian Stocks Down Ahead of Fed Meeting Minutes, U.S. Data

Stock MarketsNov 24, 2021 03:50
Saved. See Saved Items.
This article has already been saved in your Saved Items
© Reuters.

By Gina Lee – Asia Pacific stocks were down on Wednesday morning, as investors await the minutes from the latest U.S. Federal Reserve meeting, alongside other U.S. data. Investors are also weighing the risk that central banks will tighten monetary policy to curb inflation.

Japan’s Nikkei 225 fell 1.07% by 9:36 PM ET (2:36 AM GMT), with markets re-opening after a holiday. Data released earlier in the day showed that November’s manufacturing purchasing managers’ index (PMI) was 54.2. The data also included the services PMI.

South Korea’s KOSPI was down 0.37% and in Australia, the ASX 200 inched down 0.09%.

Hong Kong’s Hang Seng Index edged down 0.20%.

China’s Shanghai Composite edged down 0.19% and the Shenzhen Component inched down 0.10%.

The 10-year U.S. Treasury yield was around 1.65%, as the prospect of the Fed quickening its asset tapering programs tempered bond market inflation expectations. However, expectations remain elevated.

With U.S. equity and bond markets due to be closed on Thursday for a holiday, data including the Fed meeting minutes, GDP, and initial jobless claims will be released later in the day.

In regards to the Fed minutes, the key detail that investors should look out for is “discussions around the criteria for quicker asset tapering,” Commonwealth Bank of Australia strategist Carol Kong said in a note.

Inflation trends indicate that the Fed needs to start tightening sooner than presently signaled, the note added.

The Reserve Bank of New Zealand (RBNZ) hiked interest rates to 0.75% as it handed down its policy decision earlier in the day. The RBNZ move, a bid to curb inflationary pressures, was smaller than expected and the central bank projected 2% benchmark borrowing costs by the end of 2022.

Investors are now looking at whether inflation, which continues to remain at high levels, will prompt other key central banks, including the Fed, to hike interest rates quicker than planned.

“For quite a while now that extra liquidity hasn’t been going into the economy, it has been going more into the markets. The Fed is going to start pulling back on that,” Miller Tabak + Co. chief market strategist Matt Maley told Bloomberg.

The Bank of Korea will release its own policy decision on Thursday. Across the Atlantic, Bank of England Governor Andrew Bailey will speak at a Cambridge Union event on Thursday.

Asian Stocks Down Ahead of Fed Meeting Minutes, U.S. Data

Related Articles

Helbiz Expands Segway Partnership
Helbiz Expands Segway Partnership By - Jan 21, 2022

By Sam Boughedda — Micro-mobility company Helbiz Inc (NASDAQ:HLBZ) announced Friday that it has expanded its partnership with Segway, a personal transportation...

Nasdaq Moves Off Lows After Dipping Below 14,000
Nasdaq Moves Off Lows After Dipping Below 14,000 By - Jan 21, 2022

By Yasin Ebrahim – The Nasdaq moved off session lows Friday after falling below the key 14,000 level, as a Netflix-led rout in tech eased and dip-buying in...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email