A two-day policy meeting of the U.S. Federal Reserve gets underway later today, with markets seeing a nearly 70 percent probability of a bigger 50 bps rate cut to the 4.7-5 percent range on Wednesday.
Gold ticked higher in Asian trading even as the dollar selloff paused ahead of the U.S. retail sales data for August due later in the day.
Oil extended overnight gains due to disruptions in U.S. production caused by Hurricane Francine and expectations of a Federal Reserve interest rate cut.
Markets in mainland China and South Korea were closed for public holidays.
Japanese markets fell sharply as export-related stocks came under selling pressure due to a stronger yen.
The Nikkei average dropped 1.03 percent to 36,203.22 while the broader Topix index settled 0.60 percent lower at 2,555.76.
Sony Corp, Toyota and Nissan all fell around 2 percent after the dollar briefly weakened to the lower 140-yen range.
Tech investor Softbank Group tumbled 3.1 percent, chip-related Advantest plummeted 5.6 percent and Tokyo Electron gave up 5.2 percent.
Powered by Capital Market – Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
First Published: Sep 17 2024 | 4:36 PM IST
&w=100&resize=100,75&ssl=1 "Allu Sirish Shares How He Met Nayanika While Wishing Varun & Lavanya Happy Anniversary")
