Asian stocks fall ahead of central bank meetings: Markets wrap
Most Asian equities fell as traders await U.S. and European central bank meetings this week for further clues on the 2018 policy outlook. The dollar was steady and oil extended gains above $58 a barrel.
The Nikkei 225 Stock Average retreated from a 26-year high, and Hong Kong and Chinese shares slipped, after U.S. stock indexes hit fresh highs overnight. Most major American gauges advanced, led by more than 1 percent increases in media, telephone and technology-hardware shares, Bloomberg reports.
Investors shrugged off a non-fatal explosion in New York in what was called a terrorist attack. Volumes remain lackluster ahead of the year’s final Federal Reserve and European Central Bank meetings.
The focus at the conclusion of the Fed’s two-day meeting will be its outlook for next year, with investors debating the impact of coming policy normalisation on global asset markets. Outgoing Chair Janet Yellen is expected to signal on Wednesday more interest-rate increases to come in 2018 after raising the Fed’s benchmark by a quarter of a percentage point.
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