Asian shares declined Wednesday as markets awaited a decision on interest rates by the Federal Reserve.
Japan’s Nikkei 225 JP:NIK fell 0.1% in morning trading. Australia’s S&P/ASX 200 AU:XJO slipped 0.6% while South Korea’s Kospi KR:180721 edged down 0.1%. Hong Kong’s Hang Seng HK:HSI dipped 0.4%, while the Shanghai Composite CN:SHCOMP shed 0.3%. Stocks inched higher in Indonesia ID:JAKIDX, but slipped in Singapore SG:STI and Taiwan TW:Y9999.
He said the strong contribution to economic growth in the April-July quarter was expected to weaken in this quarter. Markets have see-sawed for weeks on uncertainty about whether the Fed is done with its market-shaking hikes to interest rates. By pulling its main interest rate to the highest level in more than two decades, the Fed has helped inflation to cool from its peak last year but at the cost of hurting prices for investments and damaging some corners of the economy.
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