Hong Kong’s Hang Seng index dropped 0.9% to 24,885.46 while the Shanghai Composite index lost 0.2% to 3,499.19.Ĭomments by Chinese Premier Li Keqiang about downward pressure on the economy also rattled investors. The question is not so much one of tapering, which at this point seems a foregone conclusion, but more about the timing of future rate hikes,” Mizuho Bank said in a commentary. “Markets are largely in wait-and-see mode ahead of the U.S. Those purchases are intended to keep long-term loan rates low to encourage borrowing and spending.
The Fed’s chair, Jerome Powell, has signaled the Fed will announce after its policy meeting that it will start paring its $120 billion in monthly bond purchases as soon as this month. Investors are awaiting comments from the Federal Reserve’s policy meeting Wednesday, when the central bank is expected to disclose plans to ease the extraordinary support measures to shore up markets and the economy during the pandemic.
Shares were mostly lower in Asia on Wednesday, weighed down by concerns over disrupted supply chains and shipping, despite the Dow Jones Industrial Average’s first close above 36,000 points.īenchmarks fell in most regional markets apart from Sydney and Taipei.
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