Asia in Limbo ahead of U.S. Fed Meeting

Stocks in Asia were mixed on Monday as investors await a U.S. Federal Reserve meeting set to happen later in the week stateside.

In Japan, the Nikkei 225 notched forward but 7.11 points to 21,124. Shares of Apple supplier Japan Display plunged 7.02% after the company announced that Taiwanese flat screen maker TPK Holding had decided against investing in it.

The Japanese yen traded at 108.56 against the U.S. dollar after seeing levels below 108.2 in the previous trading week.

In Hong Kong, the Hang Seng index regained 108.81 points, or 0.4%, to 27,227.16, a day after large crowds gathered to demand that the city’s top official step down after she suspended — but didn’t withdraw — a controversial extradition bill.

Investors are also looking ahead to an upcoming meeting by the Fed, amid expectations that the U.S. central bank could be cutting interest rates soon.

The Australian dollar changed hands at $0.6875 after its decline from levels above $0.700 last week.


In Shanghai, the CSI 300 faded 0.06 points to 3,654.82

Data released last Friday showed China’s industrial output growth in May slowing to a more than 17-year low, widely below expectations.

That figure came in at 5%, as compared to expectations of a 5.5% growth from a year earlier by analysts.

The latest data from China comes as Beijing remains locked in a trade war with Washington, raising concerns over a slowdown in the former’s economy.

In other markets

In Korea, the Kospi index lost 4.68 points, or 0.2%, to 2,090.73

In Singapore, the Straits Times Index dropped 14.64 points, or 0.5%, to 3,207.99

In Taiwan, the Taiex Index moved higher 5.87 points, or 0.1%, to 10,530.54

In New Zealand, the NZX 50 lost 65.11 points, or 0.6%, to 10,170.26

In Australia, the ASX 200 sank 23.08 points, or 0.4%, to 6,530.91