By Investors Hub
Asian markets exhibited a mixed trend amid largely stock-specific activity on Wednesday. Movements were a bit sluggish in most of the markets in the region, with traders refraining from making big moves ahead of the Federal Reserve?s monetary policy statement due later in the day.
Chinese stocks ended the day roughly flat following the holiday on Tuesday. The benchmark Shanghai Composite Index closed marginally lower at 3,082.10, while Hong Kong?s Hang Seng Index dipped 84.57 points or 0.3 percent to 30,723.88.
In the Japanese market, technology stocks fared well, but the benchmark Nikkei 225 Index edged down 35.25 points or 0.2 percent to 22,472.78. A slightly weaker yen limited the market’s downside.
With the markets to remain closed on Thursday and Friday for public holidays, traders were reluctant to build up positions.
Toyota Motor Corp. shares edged lower after the company reported a 4.7 percent year-over-year decline in vehicle sales in the U.S. in April.
Meanwhile, Australian stocks moved mostly higher on the day. The benchmark S&P/ASX 200 Index climbed 35.00 points or 0.6 percent to 6,050.20, while the broader All Ordinaries Index advanced 36.70 points or 0.6 percent to 6,136.70.
Information technology and consumer discretionary stocks moved higher. Qantas Airways surged up more than 8 percent, and Mineral Resources, ARB Corporation, Nine Entertainment and Fairfax Media gained 5.5 to 7.5 percent.
more recommended stories
Custodian Investment Buys UAC Nigeria’s 51% Stake in UPDC
By Dipo Olowookere About 51 per.
CAF Schedules Continental Club Competition Finals
By Adedapo Adesanya The Confederation of.
No Cause for Alarm, We Won’t Leave Nigeria—Shoprite
By Adedapo Adesanya After reports went.
Flour Mills Raises Dividend Payout by 17% as Profit Jumps 185%
By Dipo Olowookere Shareholders of Flour.
OPEC Basket Rise to $43.02 Per Barrel
By Adedapo Adesanya The price of.
Investors Lose N4.2bn in Three Days at NASD
By Adedapo Adesanya In three days.
Financial Stocks Drive Trading Volume by 59.15%
By Modupe Gbadeyanka Stocks in the.
New Oil Cut, US-China Tension to Dampen Market This Week
By Adedapo Adesanya After oil prices.