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Asian shares trade lower ahead of Fed meeting



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Market Data - BBC News

Market Data

Share Prices

Markets

UK markets
UK markets % change Value
Change
-0.34%
7565.70
-25.56
+0.54%
20642.86
+111.71
Europe markets
Europe markets % change Value
Change
+0.21%
557.20
+1.15
+0.54%
5408.60
+28.95
+0.43%
12384.49
+53.19
+0.53%
3411.66
+17.99
+0.85%
9549.00
+80.40
US markets
US markets % change Value
Change
+0.25%
25822.29
+63.60
+0.49%
7859.17
+38.17
+0.21%
2862.96
+5.91
Asia markets
Asia markets % change Value
Change
+0.02%
38284.98
+7.00
-0.09%
27726.86
-25.93
+0.32%
22291.17
+71.44
As of 02:40 22 Aug 2018

Currencies

GBP
% change One £ buys
Change
GBP against Euro
-0.04%
€1.1148
-0.0010
GBP against Yen
+0.12%
¥142.4050
+0.1700
GBP against USD
+0.05%
$1.2909
+0.0010
USD
% change One $ buys
Change
USD against Euro
-0.06%
€0.8637
0.0000
USD against GBP
-0.02%
£0.7747
0.0000
USD against Yen
+0.01%
¥110.3000
+0.0100
Euro
% change One € buys
Change
Euro against GBP
+0.04%
£0.8970
0.0000
Euro against Yen
+0.18%
¥127.7550
+0.2300
Euro against USD
+0.07%
$1.1579
+0.0010
Yen
% change One ¥ buys
Change
Yen against Euro
-0.16%
€0.0080
0.0000
Yen against GBP
-0.12%
£0.0070
0.0000
Yen against USD
-0.01%
$0.0090
0.0000
As of 02:40 22 Aug 2018

Commodities

Oil
Commodity % change dollars per barrel
Change
Brent Crude Oil Futures
+0.29%
72.84
+0.21
WTI Crude Oil Futures
+0.41%
66.11
+0.27
Gold
Commodity % change dollars per ounce
Change
Gold (Forex Index am fix)
0.00%
1188.75
0.00
Gold (Forex Index pm fix)
+0.50%
1184.35
+5.95
Natural Gas
Commodity % change dollars per million BTU
Change
Natural Gas (Henry Hub Futures)
+1.63%
2.99
+0.05
As of 02:40 22 Aug 2018

Most Asian stock markets closed lower, with traders looking ahead to a policy meeting at the US Federal Reserve.

Analysts expect the US central bank to end its monthly bond-buying programme and maintain its benchmark interest rate at a record low.

Japan's benchmark Nikkei index ended down 0.4%, despite data showing September retail sales beat economists' estimates.

Australian and South Korean shares also ended in negative territory.

But bucking the trend were Hong Kong and Shanghai shares, which finished 1.6% and 2% higher respectively.

The Federal Reserve has been looking to end its stimulus programme, also known as quantitative easing (QE), by gradually reducing the amount provided for its asset-purchase programme.

However, concerns over the withdrawal of the US stimulus have previously caused volatility in Asian stock markets.

That is because the Fed's programme helped money to flow into emerging market stocks, bonds and property in Asia, despite structural weaknesses in their overall economies.

Stock movers

Image copyright AFP
Image caption China is competing for overseas rail projects in Africa and Europe

Shares in China's biggest train makers, CSR and China CSR, were suspended from trading in Hong Kong and Shanghai following reports the two companies were planning to merge.

According to the China Securities Journal, the two firms had set up working groups to discuss a possible merger that would help promote China's high-speed train technology overseas.

In Australia, shares of Bega Cheese fell as much as over 2% after it said profit growth next year would "present a significant challenge".

The company has been affected by Russian sanctions on Western food imports and falling global dairy prices.

Japan's Takeda Pharmaceutical received a boost on Tuesday after a US judge reduced a $9bn (£5.6bn) penalty over a diabetes drug to $36.8m.

Takeda, which jointly made the drug with US firm Eli Lilly, faces more than 2,900 lawsuits alleging that the drugmakers failed to warn users the drug could increase their risk for bladder cancer.

Its shares rose 1% in Tokyo, outperforming the overall decline in the benchmark Nikkei.