Moscow. October 27. Asian stocks were lower on Tuesday in anticipation of the meetings of the Federal reserve system (the fed) and the Bank of Japan, which will be held this week, as well as new corporate reports for the previous quarter, reports Bloomberg.
The Japanese Nikkei 225 fell during the auction by 0.8%, Chinese Shanghai Composite – by 1.8%, the Hang Seng up 0.8%, the Australian S&P/ASX 200 is less than 0.1%.
“The demand for risky assets that we saw last week, has weakened, says analyst Securities SMBC in Tokyo Toshihiko Matsuno. Traders took a wait before the fed meeting”.
The U.S. Central Bank starts a two-day meeting Tuesday and will announce a final decision on the amount of the basic interest rate in the near future on Wednesday at 21:00 Moscow time.
According to the quotations of futures for the interest rate, the probability of its increase by the Fed at the October meeting, the market is estimated at 6%.
The BOJ meeting will be held on Friday, October 30. 16 of 36 analysts surveyed by Bloomberg predict an increase in the Japanese Central Bank amounts to stimulate the economy.
Friday will be the most active day in the current earnings season in Japan: the results for the past quarter on this day, will publish more than 300 companies, including NTT Docomo Inc. and Japan Airlines Co.
The value of shares of Japanese supplier of information services for the medical sector MS Inc. fell during Tuesday trading 9 percent after lowering the forecast price of securities of the company by the experts of Nomura Holdings Inc.
Shares of oil company Inpex Corp. fell 2.5% amid falling oil prices: the WTI price fell back below $44 per barrel.
Paper Advantest Corp. lost 4%. The electronics manufacturer has lowered its forecast profit for the current year due to the drop in sales.
Chinese market declines Tuesday on fears of traders that the recent rise of stock prices was excessive.
“The securities of many companies, particularly small ones, has risen significantly in recent times, and now market participants fixed profits, – says the analyst of JL Life Insurance in Shanghai Wu Kan. – The situation in the Chinese economy is not favoring further rise of the stock market”.
Share prices of commodity companies in the PRC falls in the course of trading. The price of the securities, Shaanxi Coal Industry Co. decreased by 4.7%, Yanzhou Coal Mining Co. – 4.6%.
The value of the shares of China’s largest cement producer Conch Cement Co Ahhui. fell by 2.4% on the information about the drop in the company’s net profit in the third quarter by 40%.