Asian Stocks are mixed today, in what traders describe as subdued trading before the FED policy meeting later tonight. Gold miners throughout Asia are the outperformers after gold traded at record highs overnight.
Even though the Fed is widely expected to leave rates on hold, it’s the commentary on the US economy that traders eagerly await for any hints to when the tightening may begin.
The ASX200 is currently down 0.2% after earlier gains and the Nikkei which opened the day slightly in the red, has remained in negative territory, down 0.1%. The Kospi on the other hand is 0.5% higher. Gold mining stocks in Australia are higher, with Newcrest up 3.2% and Lihir up 3.8%. In Japan, Sumitomo Metals is up 3% and Marubeni up 1.3%. The Korean market has been helped bya rise in financial stocks which have lagged the market, Samsung Securities is up 2.3% and KB Financial up 0.9%.
