Asian Stock Market: Displays mix performance ahead of central bank week, oil slips below $85.00 – by Sagar_Dua24 Asia China BOJ Fed Oil
ments from various central banks. But the risk tone has turned dirty as US President Joe Biden says the US military would defend Taiwan in the event of an invasion by China.
At the press time, Japan’s Nikkei225 tumbled 1.11%, Hang Seng surrendered 1.07% while China A50 jumped 0.88%. The week is going to bewilder the market participants as the People’s Bank of China , Federal Reserve , Bank of Japan ,Chinese equities have defended the downside and are advancing after upbeatdata. The economic data has landed at 5.4%, higher than the expectations of 3.5% and the prior release of 2.7%. A release of upbeat Retail Sales data in times when the inflation rate is dropping in the Chinese economy indicates that the retail demand has remained extremely robust.
Japanese markets are facing the heat ahead of BOJ policy. The central bank is expected to shift its prolonged ultra-dovish monetary policy stance to neutral to support the depreciating yen. The highlight of a depreciating yen has already created havoc for investors investing in Japanese equities. Companies that are highly dependent on global inputs are forced to make higher payouts.
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