Investing.com - Asian stock markets were mixed in rangebound trade on Thursday, as market players looked ahead to the conclusion of the Federal Reserve’s policy-setting meeting later in the day, amid hopes of further easing.
During late Asian trade, Hong Kong's Hang Seng Index rose 0.35%, Australia’s ASX/200 Index ended down 0.5%, while Japan’s Nikkei 225 Index added 0.4%.
Markets eyed the outcome of the Fed’s two-day policy meeting later Thursday, amid growing speculation that the U.S. central bank may announce a third round of bond purchases, or quantitative easing, to boost sluggish growth in the world’s largest economy.
Market expectations of a QE3 announcement this week increased after last Friday’s weaker-than-expected jobs report and following a speech from Fed Chief Ben Bernanke at Jackson Hole last month.
Market sentiment was also supported after Germany’s constitutional court approved the country’s participation in the euro zone’s bailout fund, the European Stability Mechanism on Wednesday.
The ruling cleared the way for Germany’s president to ratify the ESM under certain conditions, allowing the European Central Bank’s bond purchasing program to proceed.
The German court said that the country’s liability to the EMS must not exceed EUR190 billion without the approval of the lower house of parliament and said that both houses of parliament must be kept informed about decisions relating to the ESM.
In Tokyo, the Nikkei ended at the highest level in two weeks, on the back of strong gains for Apple suppliers, following the tech giant’s announcement of its latest flagship iPhone.
Shares in Meiko Electronic surged 8.1%, Murata Manufacturing rose 2.6%, Foster Electric Company 5.5%, while TDK added 3.7%.
Elsewhere, in Hong Kong, the Hang Seng edged higher amid growing expectations of more stimulus measures to boost growth in the world's second biggest economy.
Chinese financials were mostly higher, with Industrial and Commercial Bank of China shares gaining 1% and Bank of China adding 0.7%.
Index heavyweight HSBC Holdings traded up 0.7%. Europe’s largest lender commands a 15% weighting on the Hong Kong benchmark, making it the single largest constituent on the index.
Meanwhile, in Australia, the benchmark ASX/200 Index underperformed the region, as losses in miners dragged the market lower.
Iron ore maker Fortescue Metals plunged 13.8%, Alumina lost 1.7%, while copper miner PanAust declined 1.3%.
Looking ahead, European stock market futures pointed to a mixed open. The EURO STOXX 50 futures pointed to a gain of 0.2% at the open, France’s CAC 40 futures were little changed, London’s FTSE 100 futures eased down 0.1%, while Germany's DAX futures pointed to a flat open.
Later in the day, the ECB was to produce its monthly bulletin, while the U.S. was to publish government data on producer price inflation, as well as a weekly report on initial jobless claims.
The Federal Reserve was to announce its benchmark interest rate, followed by comments by Chairman Ben Bernanke.
During late Asian trade, Hong Kong's Hang Seng Index rose 0.35%, Australia’s ASX/200 Index ended down 0.5%, while Japan’s Nikkei 225 Index added 0.4%.
Markets eyed the outcome of the Fed’s two-day policy meeting later Thursday, amid growing speculation that the U.S. central bank may announce a third round of bond purchases, or quantitative easing, to boost sluggish growth in the world’s largest economy.
Market expectations of a QE3 announcement this week increased after last Friday’s weaker-than-expected jobs report and following a speech from Fed Chief Ben Bernanke at Jackson Hole last month.
Market sentiment was also supported after Germany’s constitutional court approved the country’s participation in the euro zone’s bailout fund, the European Stability Mechanism on Wednesday.
The ruling cleared the way for Germany’s president to ratify the ESM under certain conditions, allowing the European Central Bank’s bond purchasing program to proceed.
The German court said that the country’s liability to the EMS must not exceed EUR190 billion without the approval of the lower house of parliament and said that both houses of parliament must be kept informed about decisions relating to the ESM.
In Tokyo, the Nikkei ended at the highest level in two weeks, on the back of strong gains for Apple suppliers, following the tech giant’s announcement of its latest flagship iPhone.
Shares in Meiko Electronic surged 8.1%, Murata Manufacturing rose 2.6%, Foster Electric Company 5.5%, while TDK added 3.7%.
Elsewhere, in Hong Kong, the Hang Seng edged higher amid growing expectations of more stimulus measures to boost growth in the world's second biggest economy.
Chinese financials were mostly higher, with Industrial and Commercial Bank of China shares gaining 1% and Bank of China adding 0.7%.
Index heavyweight HSBC Holdings traded up 0.7%. Europe’s largest lender commands a 15% weighting on the Hong Kong benchmark, making it the single largest constituent on the index.
Meanwhile, in Australia, the benchmark ASX/200 Index underperformed the region, as losses in miners dragged the market lower.
Iron ore maker Fortescue Metals plunged 13.8%, Alumina lost 1.7%, while copper miner PanAust declined 1.3%.
Looking ahead, European stock market futures pointed to a mixed open. The EURO STOXX 50 futures pointed to a gain of 0.2% at the open, France’s CAC 40 futures were little changed, London’s FTSE 100 futures eased down 0.1%, while Germany's DAX futures pointed to a flat open.
Later in the day, the ECB was to produce its monthly bulletin, while the U.S. was to publish government data on producer price inflation, as well as a weekly report on initial jobless claims.
The Federal Reserve was to announce its benchmark interest rate, followed by comments by Chairman Ben Bernanke.