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Asia stocks subdued ahead of Federal Reserve meeting | Asia stocks subdued ahead of Federal Reserve meeting |
(35 minutes later) | |
Asian markets are lower as investors remain cautious ahead of the Federal Reserve meeting and a new round of talks over Greece's debt crisis. | Asian markets are lower as investors remain cautious ahead of the Federal Reserve meeting and a new round of talks over Greece's debt crisis. |
The US central bank is widely expected to keep interest rates on hold despite fresh data showing an unexpected fall in factory output. | The US central bank is widely expected to keep interest rates on hold despite fresh data showing an unexpected fall in factory output. |
On Thursday, European finance ministers are likely to urge Greece to make concessions to avoid a default. | On Thursday, European finance ministers are likely to urge Greece to make concessions to avoid a default. |
Japan's Nikkei 225 fell 0.3%, while the broader Topix is down 0.4%. | Japan's Nikkei 225 fell 0.3%, while the broader Topix is down 0.4%. |
Over in Greater China, Hong Kong is trading flat while the Shanghai Composite is falling for a second straight day. | Over in Greater China, Hong Kong is trading flat while the Shanghai Composite is falling for a second straight day. |
One of the worst performers is South Korea's Kospi, which has shed 1.6% as the country struggles to control an outbreak of MERS. | One of the worst performers is South Korea's Kospi, which has shed 1.6% as the country struggles to control an outbreak of MERS. |
It reported three more fatalities from the disease on Tuesday, bringing the overall death toll to 19. | It reported three more fatalities from the disease on Tuesday, bringing the overall death toll to 19. |
Australia's benchmark S&P/ASX 200 is bucking the trend, however, rising by about 0.6%. | Australia's benchmark S&P/ASX 200 is bucking the trend, however, rising by about 0.6%. |
European markets fell on Monday and Wall Street also ended lower as fears mount over the prospect of a Greek exit from the single currency. | European markets fell on Monday and Wall Street also ended lower as fears mount over the prospect of a Greek exit from the single currency. |
Stock movers | Stock movers |
Taiwanese smartphone-maker HTC is down by nearly 6% after it ruled out a merger with larger rival Asustek Computers. | Taiwanese smartphone-maker HTC is down by nearly 6% after it ruled out a merger with larger rival Asustek Computers. |
The company used to sell one in 10 smartphones globally but has struggled to maintain market share in the face of competition from Apple and Samsung. | The company used to sell one in 10 smartphones globally but has struggled to maintain market share in the face of competition from Apple and Samsung. |
HTC recently downgraded its quarterly earnings outlook, forecasting a steep loss. | HTC recently downgraded its quarterly earnings outlook, forecasting a steep loss. |
Malaysian budget airline AirAsia is falling by more than 2% following a report that chief executive Tony Fernandes may hold a bond issuance and sell airplanes to raise funds. | |
The head of Asia's biggest low-cost carrier reportedly made the announcement in a letter to investors after a steep fall in shares last week. | The head of Asia's biggest low-cost carrier reportedly made the announcement in a letter to investors after a steep fall in shares last week. |
Singapore-listed commodity trader Noble is also falling despite holding its third share buyback. | Singapore-listed commodity trader Noble is also falling despite holding its third share buyback. |
Its stock has lost more than 40% of its value since an anonymous outfit called Iceberg Research first accused it of accounting irregularities in mid-February. | Its stock has lost more than 40% of its value since an anonymous outfit called Iceberg Research first accused it of accounting irregularities in mid-February. |
Noble has repeatedly denied the allegations. | Noble has repeatedly denied the allegations. |