Asian Markets Mostly Lower
Nasdaq (RTTNews) - Asian stock markets are trading mostly lower on Tuesday, despite the slightly positive cues from Wall Street overnight, as traders seemed reluctant to make significant moves ahead of the US Fed's monetary policy announcement on Wednesday. They also look ahead to the monetary policy decisions by the US Fed, the Bank of Japan and the Bank of England this week. Asian markets closed mixed on Monday.
The Fed is widely expected to leave interest rates unchanged, but traders will pay close attention to the accompanying statement and the central bank's projections for clues about the outlook for rates.
While CME Group's FedWatch Tool is currently indicating a 99.0 percent chance the Fed will leave rates unchanged this week, the outlook for the November meeting is somewhat more mixed.
The Australian stock market is notably lower on Tuesday, extending the losses in the previous session, with the benchmark S&P/ASX 200 falling to a tad above the 7,200 level, despite the slightly positive cues from Wall Street overnight, dragged by weakness in technology and financial stocks, partially offset by gains in gold miners and energy stocks.
