{"id":78419,"date":"2023-10-30T07:58:17","date_gmt":"2023-10-30T11:58:17","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/asian-stocks-sink-before-policy-packed-week-nikkei-hit-by-pre-boj-jitters\/"},"modified":"2023-10-30T07:58:21","modified_gmt":"2023-10-30T11:58:21","slug":"asian-stocks-sink-before-policy-packed-week-nikkei-hit-by-pre-boj-jitters","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=78419","title":{"rendered":"Asian stocks sink before policy-packed week; Nikkei hit by pre-BOJ jitters"},"content":{"rendered":"
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\u00a9 Reuters. <\/span>
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Investing.com– Most Asian stocks fell on Monday as investors hunkered down for a data-heavy week headlined by the Federal Reserve, while uncertainty before a Bank of Japan meeting weighed heavily on the Nikkei.\u00a0<\/p>\n

Markets are awaiting interest rate decisions from the , the and the , as well as key economic readings from China and the U.S. Major third-quarter earnings, particularly from iPhone maker Apple Inc (NASDAQ:), are also on tap this week.\u00a0<\/p>\n

Risk appetite remained frail as Israel launched a large-scale ground assault on Gaza over the weekend, drawing ire from a string of Arab states. But there appeared to be no broader spillover in the Middle Eastern conflict.<\/p>\n

Sentiment was also battered by Wall Street indexes entering correction territory last week, although futures rose in evening trade on Sunday.\u00a0<\/p>\n

Japan\u2019s Nikkei lags as traders eye BOJ shift\u00a0<\/h2>\n

The sank 1.2% on Monday, and was the worst performer in Asia as traders hunkered down before a Bank of Japan meeting on Tuesday.\u00a0<\/p>\n

Weakness in technology stocks also weighed on the Nikkei.\u00a0<\/p>\n

The BOJ is widely expected to keep interest rates at negative levels. But media reports suggested that a potential shift in the bank\u2019s yield curve control policy was on tap, especially given recent increases in inflation and weakness in the . Japanese government bond yields have also risen significantly, testing the BOJ\u2019s target range.\u00a0<\/p>\n

Any hawkish moves by the BOJ herald an end to the nearly decade\u2019s worth of easy monetary policy enjoyed by Japanese stocks, and are likely to sap investor appetite for the market.\u00a0<\/p>\n

A dovish BOJ was one of the biggest drivers of a Japanese stock rally this year, as interest rates rose sharply across the globe.<\/p>\n

Broader Asian markets retreated on Monday, remaining largely on guard before a Fed meeting on Wednesday. While the Fed is expected to keep rates on hold, officials have still signaled , amid a resurgence in U.S. inflation.<\/p>\n

Australia\u2019s fell 0.5% as a bigger-than-expected jump in pushed up bets that the Reserve Bank will have more headroom to hike interest rates when it . Monday\u2019s reading also presented more upside to inflation.\u00a0<\/p>\n

China\u2019s fell 0.3%, while the was flat as markets awaited key from the country, due on Tuesday. The reading is expected to show some improvement in Chinese business activity through October, amid some signs of stability in Asia\u2019s biggest economy.<\/p>\n

Hong Kong\u2019s shed 0.3%, with tech stocks coming under pressure before the Fed. A recent spike in U.S. Treasury yields had greatly battered global tech stocks over the past week.<\/p>\n

But those markets saw some bargain buying on Monday. South Korea\u2019s added 0.4% after a 2.7% tumble last week, while futures for India\u2019s rose 0.4%, after the index sank 1.4% in the past week.\u00a0<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Investing.com– Most Asian stocks fell on Monday as investors hunkered down for a data-heavy week headlined by the Federal Reserve, while uncertainty before a Bank of Japan meeting weighed heavily on the Nikkei.\u00a0 Markets are awaiting interest rate decisions from the , the and the , as well as key economic readings from […]<\/p>\n","protected":false},"author":1,"featured_media":78420,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-78419","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nAsian stocks sink before policy-packed week; Nikkei hit by pre-BOJ jitters | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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