This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-34897114
The article has changed 5 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Asian shares lack direction ahead of US Fed meeting | Asian shares lack direction ahead of US Fed meeting |
| (about 2 hours later) | |
| Shares in Asia on Monday were steady on Monday ahead of an unscheduled US Federal Reserve meeting later on Monday. | |
| The Fed said the meeting was called to review the advance and discount interest rates charged to commercial banks and other financial institutions. | The Fed said the meeting was called to review the advance and discount interest rates charged to commercial banks and other financial institutions. |
| There has been much speculation the Fed will raise its benchmark interest rate by the end of this year. | There has been much speculation the Fed will raise its benchmark interest rate by the end of this year. |
| Australia's S&P/ASX 200 index was up 0.2% at 5,264.8 points. | Australia's S&P/ASX 200 index was up 0.2% at 5,264.8 points. |
| Evan Lucas of IG Markets said the Sydney market was the best-performing developed market globally last week. | Evan Lucas of IG Markets said the Sydney market was the best-performing developed market globally last week. |
| "This is likely to be down to two factors: volatility collapsing on central bank expectations and the fact that yield in Australian or even US dollars is the highest in the Asian world," he said. | "This is likely to be down to two factors: volatility collapsing on central bank expectations and the fact that yield in Australian or even US dollars is the highest in the Asian world," he said. |
| However, Mr Lucas said that mining shares in Australia - especially BHP - could be hit this week after iron ore fell to $44.91 a tonne on Friday - the second-lowest read of the year. Iron ore is Australia's biggest commodity export. | However, Mr Lucas said that mining shares in Australia - especially BHP - could be hit this week after iron ore fell to $44.91 a tonne on Friday - the second-lowest read of the year. Iron ore is Australia's biggest commodity export. |
| South Korea's benchmark Kospi index was up 0.35% at 1,996.1 points. | South Korea's benchmark Kospi index was up 0.35% at 1,996.1 points. |
| Elsewhere in Asia | Elsewhere in Asia |
| China's two mainland stock exchanges - the Shanghai and Shenzhen indexes - said last week that new rules would come into effect on Monday aimed at limiting leveraged bets on the market and reducing speculative behaviour by investors. | China's two mainland stock exchanges - the Shanghai and Shenzhen indexes - said last week that new rules would come into effect on Monday aimed at limiting leveraged bets on the market and reducing speculative behaviour by investors. |
| The intention is to reduce the amount that investors can borrow against their existing holdings - a step that analysts said was responsible and would help avoid so-called bubbles. | The intention is to reduce the amount that investors can borrow against their existing holdings - a step that analysts said was responsible and would help avoid so-called bubbles. |
| Reaction to the new rules was subdued, however, with the Shanghai benchmark index flat in mid morning trade, up just 0.06% at 3,633.01. | |
| In Hong Kong, the Hang Seng index was down 0.19% at 22,714.95. | |
| Japan's benchmark Nikkei index was closed on Monday for a public holiday. | Japan's benchmark Nikkei index was closed on Monday for a public holiday. |