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Stock market today: Asian shares weaker ahead of Federal Reserve interest rate decision

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TOKYO (AP) — Asian shares were mostly lower in cautious trading Tuesday ahead of the Federal Reserve’s upcoming decision on interest rates. Japan's benchmark Nikkei 225 dropped 1.1% to 33,160.03. Australia's S&P/ASX 200 lost 0.5% to 7,196.70. South Korea's Kospi edged down 0.7% to 2,556.42. Hong Kong's Hang Seng slipped 0.2% to 17,893.99, while the Shanghai Composite fell 0.1% to 3,122.21. The Fed is due to wrap up a two-day meeting on Wednesday. Japan's central bank will meet Thursday-Friday as

Japan's benchmark Nikkei 225 dropped 1.1% to 33,160.03. Australia's S&P/ASX 200 lost 0.5% to 7,196.70. South Korea's Kospi edged down 0.7% to 2,556.42. Hong Kong's Hang Seng slipped 0.2% to 17,893.99, while the Shanghai Composite fell 0.1% to 3,122.21.

Monday on Wall Street, the S&P 500 edged up 0.1% to 4,453.53 and the Dow Jones Industrial Average rose less than 0.1% to 34,624,30. The Nasdaq composite added less than 0.1% to 13,710.24. Traders are betting on a roughly 40% chance the Fed will raise rates again in either November or December, according to data from CME Group.

Another warning signal comes from the leading economic indicators index, which looks at new orders for manufacturers, consumer expectations for business conditions and other factors that could show where the economy is heading. Clorox dropped 2.4% after it said a cybersecurity attack caused widespread disruptions to its business. It’s still measuring the damage, but it said it expects it to be material on upcoming results. Clorox also said it believes the unauthorized activity has been contained.carried into another day. Ford fell 2.1%, and General Motors slipped 1.8%.

 

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Asian markets off to a slow start in central bank packed weekAsian shares started cautiously on Monday in a week packed with central bank meetings that include the Federal Reserve and the Bank of Japan, which will be closely scrutinised for the global interest rate outlook. Both S&P 500 futures and Nasdaq futures rose 0.2% in early Asia. MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.1% after gaining 1.2% last week.
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