Asian stocks markets remained flat today (October 30th) on renewed speculation that the US Federal Reserve was going to raise interest rates before the end of the year.
The central bank has decided to keep US interest rates unchanged at the end of its two-day meeting on Wednesday. However, officials have suggested that they had become less concerned in recent weeks about the slowing down of the economy overseas.
They signalled that they will assess if it was time to raise rates at their next meeting, as the US economy was still expanding at a moderate pace.
Despite today's weak session, Asian stocks reported their strongest monthly performance in years in October after fears about China's economy eased and global central banks kept stimulus policies intact.
According to Reuters, markets in the region were poised for their best month since 2012.
Japan's Nikkei 225 edged up 0.2 per cent to 18,974.90, Hong Kong's Hang Seng was down 0.2 per cent at 22,775.25 and South Korea's Kospi remained flat at 2,034.74. China's Shanghai Composite gained 0.1 per cent to 3,391.41 while Australia's S&P/ASX 200 fell 0.2 per cent to 5,257.30.
GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.