Asia Falls Ahead Of Central Bank Decisions
Date
9/18/2023 7:11:26 AM
(MENAFN- Baystreet.ca)
Asia Falls Ahead of Central bank Decisions
Asia-Pacific markets slipped Monday as investors look ahead to a week of central bank decisions.
Markets in Japan were shuttered for holiday.
In Hong Kong, the Hang Seng index dropped 252.34 points, or 1.4%, to 17,930.55.
The U.S. federal Reserve's decision is expected early Thursday in Asia, while Australia's central bank will release its minutes for its Sept. 5 policy meeting on Tuesday.
On Friday, the Bank of Japan will conclude its monetary policy meeting and traders will be looking for clarity on when the BOJ will start to shift its ultra-easy monetary policy. Elsewhere, the People's Bank of China is also expected to release its loan prime rate decisions on Friday.
CHINA
The CSI 300 regained 18.93 points, or 0.5%, to 3,727.71. It was the CSI's first gain in four days.
Shares of beleaguered Chinese real estate developer Evergrande tumbled as much as 22.6% on Monday after police detained some staff from the group's wealth management unit over the weekend.
Reuters reported that police from the southern city of Shenzhen said in a statement that“public security organs took criminal compulsory measures against Du and other suspected criminals at Evergrande Financial Wealth Management Co.”
In other markets
In Taiwan, the Taiex index staggered 222.68 points, or 1.3%, to 16,698.24.
In Singapore, the Straits Times settled 17.3 points, or 0.5%, to 3,263.39.
In Korea, the Kospi index moved lower 26.56 points, or 1%, to 2,574.72.
In New Zealand, the NZX 50 hiked 49.27 points, or 0.4%, to 11,397.
In Australia, the ASX 200 fell 48.66 points, or 0.7%, to 7,230.37.
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