Asian stocks: Bank of Japan meeting, Japan unemployment rate | Wilnesh News

Asia-Pacific stocks fell across the board on Tuesday as the Bank of Japan began a two-day monetary policy meeting.

The Bank of Japan is expected to raise its benchmark interest rate and cut its purchases of Japanese government bonds. Economists polled by Reuters expect the bank to raise its benchmark interest rate to 0.1% from the current range of 0% to 0.1%.

Japan’s Nikkei 225 Index It rebounded in late trading, rising 0.15% to 38,525.95 points, while the Topix fell 0.19% to close at 2,754.45 points. Japan unemployment rate Growth in July was slightly lower than expected, at 2.5%, compared with a Reuters poll of economists forecasting 2.6%.

Korean Cospi It fell 0.99% to close at 2,738.19 points, while the small-cap Kosdaq index fell a smaller 0.52% to close at 803.78 points.

Australia’s S&P/ASX 200 index fell 0.46% to close at 7,953.2 points.

heavyweight miner fortescue The after-hours drop was as high as 10.27%, a new low in more than 20 months. Australian Financial Review report JPMorgan’s equity capital markets team is seeking a buyer for A$1.9 billion ($1.2 billion) of discounted Fortescue shares on behalf of an unnamed institutional investor.

Hongkong Hang Seng Index The CSI 300 index fell 1.29%, while the CSI 300 index fell 0.76%, extending its losses after closing at its lowest level in nearly six months on Monday.

In Hong Kong, shares of banking giants Standard Chartered Bank Then rose 3.62% Announces largest buyback ever 1.5 billion and raised its 2024 revenue guidance during its first-half results.

The three major U.S. stock indexes were mixed overnight. S&P 500 Index Stocks edged higher as Wall Street braced for a busy week of corporate earnings and anticipated key policy releases from the Federal Reserve.

Economists do not expect the Fed to make any changes to the federal funds rate at this meeting, but traders will be looking for clues on whether the Fed will cut interest rates in September.