During today's Turkish central bank meeting, the market anticipated a rate cut between 200-300 pips.
Asia-Pacific equities generally inch down
On Tuesday, the stock indices of the Asia-Pacific region generally declined on quite downbeat signals from Wall Street in the face of weakness in technological stocks. Market participants are cautious, waiting for the decision of the Bank of Japan on its monetary policy. The long awaited verdict should be adopted in the nearer future against the backdrop of rumors that the BOJ can have its huge program for the purchase of assets tweaked. Meanwhile, the Fed’s decision on monetary policy is expected to show up on Wednesday.
The Australian market kept soaring, but insignificantly because traders are cautious, awaiting monetary policy verdicts from major financial institutions this week.
The equities of BHP Billiton added over 1%, Rio Tinto gained up to 0.4%, and the stocks of Fortescue Metals headed south by nearly 0,6%.
Meanwhile, the market value of Woodside Petroleum managed to rally by up to 1%. As for Santos equities, they inched down by about 0.3%.
In addition to this, crude prices revived during the night.
Key four financial institutions, including Anz Banking, National Australia Bank, Commonwealth Bank and Westpac managed to ascend 0.2%-0.6%.
The Japanese market extended its losses from the previous trading marathon, reacting to downbeat indications from Wall Street. Market participants are quite cautious ahead of the decisions of Japan’s main financial institution. Nevertheless, the financial markets of the Asia-Pacific region cut initial losses and they’re currently traded with a minor descend.
As for the major exporters, they are traded in different directions due to the fact that the Japanese yen tacked on ahead of the BOJ’s decision.
In addition to this, Canon went down by about 0.5%, Sony headed south by approximately 0.3%. At the same time Mitsubishi Electric and Panasonic ramped up their capitalization by respectively 0.3% and 0.1%.
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