Hong Kong tech leads losses in mixed Asia session
Timilehin Adejumobi
1 min read
Shares in the Asia-Pacific was mixed on Monday ahead of major central bank meetings this week. The Hang Seng index in Hong Kong was 0.64% lower, with the Hang Seng Tech index down 1.9%.
South Korea’s Kospi opened higher before falling 0.56% and the Kosdaq was 0.99% lower. In mainland China, the Shanghai Composite gained 0.22% and the Shenzhen Component also gained 0.14%.
The S&P/ASX 200 in Australia was up 0.15%. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.4%. Japan’s market was closed for a holiday Monday.
Later this week, the Federal Reserve and the Bank of Japan will be announcing their interest rate decisions.
Traders are betting on a 75-basis-point rate hike from the Fed, with the probability standing at 82%, according to the CME FedWatch tracker of Fed funds futures bets.
The Bank of Japan is expected to keep rates on hold at ultra-low levels, analysts predicted in a Reuters poll.
This report’s information was first seen on CNBC; to read more, click this link.
