- Asian stock markets open on a weak note on Friday ahead of the key event.
- Chinese central bank looks to target outflows and limit the amount of Yuan offshore.
- Japan’s Nikkei leads losses by almost 2%, dragged by tech stocks.
- Indonesian central bank decided to maintain its interest rate at 5.75%.
- Market players will keep an eye on the Fed’s Powell speech.
Asian stock markets trade in negative territory on Friday. Markets turn cautious ahead of the Federal Reserve (Fed) Chairman Jerome Powell’s speech. Additionally, the primary forces propelling the Asian market are a stronger dollar and lingering fears about global growth in China.
At press time, China’s Shanghai is down 0.4% to 3,070, the Shenzhen Component Index dips 0.94% to 10,160, Hong Kong’s Hang Sang falls 0.86% to 18,057, South Korea’s Kospi is down 0.66%, Japan’s Nikkei dips 1.92% and Taiwan’s Weighted Index slumps 1.23%
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