Regional markets marginally higher before Fed rates decision

Business | 18 Jun 2019 11:07 am

Investor caution ahead of the Federal Reserve’s interest rate meeting capped Asian stocks today, while crude oil prices retreated as global growth worries overshadowed supply concerns stemming from recent Middle East tensions.

MSCI’s broadest index of Asia-Pacific shares outside Japan edged up by 0.2 percent.

In mainland China, the Shanghai Stock Exchange Composite Index edged up by 0.34 percent, or 9.73 points at 2,897.36.

Australian stocks inched up by 0.3 percent after minutes from the Reserve Bank of Australia’s last policy meeting pointed to the possibility of another interest rate cut.

South Korean stocks continued to trade higher today as institutions bought undervalued shares after falling for four straight sessions. The benchmark Korea Composite Stock Price Index gained 11.14 points, or 0.53 percent, to reach 2,101.87 as of 11:20 a.m.

Market kingpin Samsung Electronics advanced 1.37 percent and LG Electronics added 1.12 percent. No. 2 chipmaker SK hynix was flat.-Reuters/The Standard 

 

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