Asian stocks set for mixed session as investors await Fed
By John McCrank NEW YORK (Reuters) - Asian shares were set for a mixed open on Wednesday as investors awaited the Federal Reserve's view on the economy at the end of its policy meeting, although upbeat Chinese and U.S.
By John McCrank
NEW YORK (Reuters) - Asian shares were set for a mixed open on Wednesday as investors awaited the Federal Reserve's view on the economy at the end of its policy meeting, although upbeat Chinese and U.S. economic data is likely to give sentiment a tailwind.
Global equities markets rallied on Tuesday, first on data that showed China's industrial output and retail sales picked up, and later on an increase in U.S. factory production.
Australian S&P/ASX 200 futures
Hong Kong's Hang Seng index futures <.HSI>
E-mini futures for the S&P 500
Commodity-linked currencies such as the Australian
But with U.S. lawmakers at an impasse over a new stimulus package, concerns about the economic recovery remained and investors' attention shifted to the two-day U.S. Federal Reserve meeting, which started on Tuesday.
"There is some expectation that with the U.S. Congress unwilling/unable to agree to a new fiscal package, monetary policy may need to step in to fill the void," NAB analyst Tapas Strickland said in a note. "Accordingly markets will be focused on any changes to forward guidance and to any balance sheet adjustments."
The Bank of Japan and the Bank of England announce their respective policy decisions on Thursday.
MSCI's broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> closed 0.65% higher on Tuesday.
U.S. stocks ended off their session highs, with the Dow industrials closing little changed.
The S&P 500 <.SPX> gained 0.52% while the tech-heavy Nasdaq Composite <.IXIC> rose 1.21%.
U.S. retail sales figures from August will also be in focus on Wednesday.
Separately, the World Trade Organization found on Tuesday that the United States had breached global trading rules by imposing multi-billion dollar tariffs in President Donald Trump's trade war with China, a ruling that drew anger from Washington.
(Reporting by John McCrank; Editing by Sam Holmes)
This story has not been edited by Firstpost staff and is generated by auto-feed.
By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States
BEIJING Chinese President Xi Jinping on Wednesday called for greater efforts to make the country's navy a world class one, strong in operations on, below and above the surface, as it steps up its ability to project power far from its shores.China's navy has taken an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and a new aircraft carrier launched last month.With President Donald Trump promising a US shipbuilding spree and unnerving Beijing with his unpredictable approach on hot button issues including Taiwan and the South and East China Seas, China is pushing to narrow the gap with the U.S. Navy.Inspecting navy headquarters, Xi said the navy should "aim for the top ranks in the world", the Defence Ministry said in a statement about his visit."Building a strong and modern navy is an important mark of a top ranking global military," the ministry paraphrased Xi as saying.