Asian shares flat to lower in runup to Fed meeting

Tuesday, 19. March 2019 08:15

Equities in Asia-Pacific mostly retreated on Tuesday, but price action was muted as market participants were focused on the monetary policy update from the United States Federal Reserve, scheduled for tomorrow. Investors already penciled in a pullback in projections for interest rate increases, while the central bank's officials are also widely seen downgrading economic growth estimates. Precious metals were off session highs with the exception of palladium, which reached another record high today. Focus was also on the United Kingdom, where Prime Minister Theresa May suffered a defeat in the attempt to put the Brexit agreement to vote for the third time.

Japan's Nikkei 225 index finished 0.08% lower. The dollar slipped 0.11% to ¥111.3065 and traded almost unchanged at 6.72179 offshore yuan at 8:13 am CET.

In the most populous nation, the Shanghai Composite was 0.18% in the red at the closing bell and the Shenzhen Composite finished flat. The Hang Seng was 0.05% down in Hong Kong. South Korea's Kospi lost 0.09% and the S&P/ASX decreased by 0.09% for the day in Australia.

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