Investors are watching for the outcome of the Federal Reserve's policy setting meeting this week, where decision makers will gauge the strength of the...
BANGKOK — Shares were mixed in Asia on Tuesday, with Chinese markets losing ground, after gains in several big-name tech companies including Apple helped nudge the S&P 500 to another record high.
The concern is that the Fed could ease up on bond purchases and other stimulus measures as the economy recovers. The Fed delivers its interest rate policy update Wednesday afternoon and no policy changes are expected immediately, but comments on a shift in policy could jostle already skittish markets.
Tokyo’s Nikkei 225 NIK, +0.96% rose 0.1% to 29,438.39 and the Kospi 180721, +0.13% in Seoul gained 0.2% to 3,256.29. In Hong Kong, the Hang Seng HSI, -0.65% lost 0.8% to 28,622.75 while the Shanghai Composite index SHCOMP, -0.74% shed 0.9% to 3,557.33. In Sydney, the S&P/ASX 200 XJO, +0.99% surged 1.1% to 7,389.80.
“Most of this is just positioning in front of the Fed later this week,” said Willie Delwiche, investment strategist at All Star Charts. Investors are “trying to get a sense of not just what the Fed is going to say in terms of announcements, but what they expect in terms of the path of monetary policy and the economy going forward.”
Lordstown Motors RIDE, -18.84% sank 18.8% after its CEO and CFO resigned as problems mount for the startup electric truck maker.
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