The Asian stock markets are expected to open in mixed fashion again on Wednesday, with decent earnings news offset by caution ahead of the U.S. FOMC rate decision and GDP data later today.
In earnings news, drug giant Pfizer reporting better than expected fourth quarter earnings, while Tupperware, Beazer Homes and Eli Lilly also released solid quarterly results.
The major U.S. averages were mixed on Tuesday as the rose 72.49 points or 0.5 percent to finish at 13,954.42, while the S&P 500 climbed 7.66 points or 0.5 percent to close at 1,507.84 and the NASDAQ eased 0.64 points or less than a tenth of a percent to end at 3,153.66.
The major European markets were mixed again on Tuesday as the DAX of Germany climbed 0.20 percent and the CAC 40 of France gained 0.13 percent. The FTSE 100 of the U.K. jumped 0.83 percent, but the SMI of Switzerland fell 0.35 percent.
The Asian markets were mostly higher on Tuesday as Taiwan jumped 1.13 percent, while Australia climbed 1.11 percent, South Korea’s KOSPI collected 0.84 percent, China’s Shanghai Composite gained 0.53 percent, Indonesia rose 0.50 percent, Thailand advanced 0.46 percent, Japan’s Nikkei added 0.39 percent and Malaysia was up 0.01 percent.
Moving lower, Hong Kong’s Hang Seng eased 0.07 percent, while New Zealand fell 0.10 percent, Singapore’s Straits Times lost 0.43 percent and India’s Sensex dipped 0.56 percent.
by RTT Staff Writer
For comments and feedback: editorial@rttnews.comMarket Analysis