Asian markets traded in the red on Wednesday, as the Trump-Kim summit failed to impress investors and focus turned to upcoming central bank meetings in the U.S., Europe and Japan. The U.S. Federal Reserve ends its two-day policy meeting later today while the European Central Bank and Bank of Japan are holding meetings on Thursday and Friday this week, respectively. Markets in South Korea and Indonesia were closed. In Australia, the local market closed sharply lower after financials and energy stocks came under pressure.
European markets closed flat to higher as investors waited for the latest monetary policy decision from the U.S. Federal Reserve, which is expected to raise key interest rates by 0.25 points for the second time this year. On the data front, eurozone industrial production decreased 0.9% in April while the number of persons employed increased by 0.4% in both the eurozone and the EU28 in the first quarter of 2018 Eurostat said. There were 237.9 million men and women employed in the EU28, of
which 157.2 million were in the eurozone. These are the highest levels ever recorded in both areas.
Across the Atlantic, U.S. stocks fell after the Federal Reserve hiked interest rates 25 basis points after its June meeting as widely expected, but indicated that two more increases are likely this year. The rise will likely cause a ripple effect on the borrowing costs for consumers and businesses that want to access credit based on the U.S. dollar.
World Markets Headlines Today
Hong Kong shares flat in cautious trade after Trump-Kim summit (Nikkei Asian Review)
India: Sensex, Nifty hold gains, pharma, IT stocks lead (Mint)
Australia: ASX sinks ahead of Fed (Australian Business Review)
European markets lack direction ahead of Fed's rate decision (CNBC)
European Shares Seen Muted Ahead Of Fed, ECB Meetings (RTT News)
European markets are higher today with shares in France leading the region (CNN Money)
Stocks Mixed as Wall Street Awaits the Fed's Decision on Interest Rates
Dollar Rebounds as Stocks Drop on Hawkish Fed Tone (Bloomberg)
Stock market slumps after Fed lifts rates for second time in 2018 (Marketwatch)
Gold prices steady as markets wait for Fed meeting, Oil prices fall on prospect of rising supplies (Reuters)
25 Major Markets Stock Indices Closing Data
All Continents Stock Indices Closing Data
Tokyo's Nikkei 225 was up 0.38% while Hong Kong's Hang Seng fell 1.22%. China's Shanghai Composite lost 0.97%. Mumbai's Sensex increased 0.13% while Nifty 50 was higher by 0.13%. Australia's ASX200 fell 0.51% Singapore's STI finished the day 0.11% in the hole. Jakarta's stock market will be closed all week for the celebration of Eid-Ul-Fitr and Taiwan's Weighted Index was up 0.26%.
The Paneuropean STOXX600 was up 0.38%. France's CAC slipped 0.01%. London's FTSE was unchanged. Belgium's BEL 20 decreased 0.08%. Amsterdam's AEX increased 0.17%. Moscow's Stock Exchange was off 0.04%.
In Southern Europe, Lisbon's PSI20 was up 0.36% while Spain's IBEX 35 was lower by 0.15% and Italy's FTSE MIB grew 0.44%. In Scandinavia, Stockholm's OMXS30 lost 0.08% while Copenhagen's OMXC25 was up 0.36%. Helsinki's OMXHPI finished the day 0.06% in the green.
In Central Eastern Europe, Budapest's BUX dropped 1.32% while Warsaw's WIG fell 0.49%. Prague's PX rose 0.29% and Bratislava's SAX was off 0.81%. Tallinn's OMXT was higher by 0.04% while Riga's OMXR was up 1.25%. In Vilnius, the OMXV grew 0.07%.
In South Eastern Europe, Bucharest's BET ticked up 0.01% while Sofia's Sofix increased 0.38%. Belgrade's Belex 15 grew 0.44%. Podgorica's MNSE10 advanced 0.09%. Sarajevo's SASX10 was up 0.47% while Banja Luka's BIRS grew 0.65%. Ljubljana's SBI Top added 0.07%. Zagreb's Crobex fell 0.20%. In Skopje, the MBI10 was up 0.74%. Istanbul's BIST100 moved downward 1.89%. In Athens, the General Index finished the day 0.95% in the green while in Nicosia decreased 0.58%.
Botswana's DCI was off 0.06% while Dar Es Salaam's ASI dropped 0.07%. Egypt's EGX30 grew 1.51%. Johannesburg's ASI was up 0.39%. Lusaka's ASI fell 0.14% and Casablanca's MASI lost 0.13%. Malawi's ASI ticked up 0.02%. Nigeria's ASI was down 0.35% while Namibia's Overall Index was up 0.42%. Mauritius' SEMDEX grew 0.05% and Tunisia's TUNINDEX advanced 0.05%. Uganda's ASI was higher by 0.10% and Zimbabwe's Industrial Index increased 0.25%.
In the U.S., the Dow Jones was off 0.47% while the S&P fell 0.40%. The Nasdaq lost 0.11%. In Canada, the S&P TSX was lower by 0.14%.