Asian shares plunge on Fed-driven sentiment

16.06.2021 - Petr Mazaylo
Asian shares plunge on Fed-driven sentiment

Asian share markets were mostly subdued during their early Wednesday trade. Investors remained cautious ahead of a highly anticipated U.S. Federal Reserve policy decision, making equities across the region stagnant.

Japan’s benchmark index Nikkei recorded a 0.31% drop, with the decrease owed mainly to weak exports. Hong Kong shares edged 0.16% lower, while Australia and South Korea hiked 0.60% and 0.24% respectively.

Chinese equities’ weak session came ahead of the country’s economic data, which include industrial output and unemployment readings. The Shanghai Composite declined 0.49%, while the Shenzhen Component eased 0.55%.

The Federal Reserve’s decision, which would be released later in the day, also put investors on edge as this would provide details about the central bank’s possible taper talks.

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