The whole of Asia’s stock markets dipped as traders anticipated the U.S. Federal Reserve’s rate decision on Wednesday domestically while China kept its one-year and five-year lending prime rates constant.
The prime rates for China’s one-year and five-year loans were maintained at 3.45% and 4.2%, respectively.
Japan released its August trade data to the region, and South Korea’s wholesale inflation increased for the first time since July 2022 – Asia’s stock markets.
The Nikkei 225 index of Japan decreased 0.66% to settle at 33,023.78, and the Topix lost 1%, ending a three-day winning streak.
In August, Japan’s trade deficit decreased by two-thirds year over year as imports and exports showed a lesser decline than anticipated.
The S&P/ASX 200 index in Australia decreased 0.46% to close at 7,163.3, marking a third straight day of losses.
The Kosdaq fell 0.13% to 882.72 while the Kospi in South Korea closed 0.02% higher at 2,559.77, defying the general sell-off.
After the LPR announcement, the Hang Seng index in Hong Kong fell 0.62%, and mainland Chinese markets also saw losses, with the CSI 300 dropping 0.4% and ending at 3,705.69.
All three major U.S. markets declined on Tuesday in advance of the Fed’s announcement, with the Dow Jones Industrial Average falling by 0.31%.
The Nasdaq Composite fell 0.23% while the broad-market S&P 500 fell 0.22%.
