Friday, September 17, 2021

Asian markets lacked direction amid covid surge, US Fed’s meeting

Asian markets lacked direction today and traded little changed, as a surge in virus cases in the region and the US Federal Reserve’s meeting beginning today, kept the investors on edge.

So Japan’s Nikkei-225 index ended 0.5 percent lower; Hong Kong’s Hang Seng index ended marginally lower and South Korea’s Kospi index shed 0.1 percent.

But China’s Shanghai Composite index ended marginally higher; and Singapore’s Straits Times index gained 0.3 percent.

Meanwhile, profit at China’s industrial firms grew sharply in March from a low base a year earlier, as demand for raw materials surged along with the economic recovery, though the pace of growth has slowed, official data showed today.

In Europe, stocks were subdued with the key indices, London’s FTSE-100 had traded marginally lower; France’s CAC-40 had shed 0.2 percent and Germany’s DAX had dropped 0.5 percent, in intra-day trade.

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