Mixed day for Asian stocks Monday, ahead of Federal Reserve meeting

Lola Evans
24 Jan 2022, 17:20 GMT+10

Stocks in Asia were mixed on Monday as investors fretted over this week's meeting of the U.S. Federal Reserve.
"With inflation eye-wateringly high, the Fed is on course to steadily remove the ultra-accommodative monetary policy that has been a key prop to stock prices for over a decade now."
The Australian All Ordinaries fell 48.60 points or 0.65 percent to 7,441.50.

SYDNEY, NSW, Australia - Stocks in Asia were mixed on Monday as investors fretted over this week's meeting of the U.S. Federal Reserve.

"With inflation eye-wateringly high, the Fed is on course to steadily remove the ultra-accommodative monetary policy that has been a key prop to stock prices for over a decade now," Oliver Allen, a market economist at Capital Economics told Reuters Monday.

The Australian All Ordinaries fell 48.60 points or 0.65 percent to 7,441.50.

In Japan, the Nikkei 225 managed a small rise. The key index gained 66.11 points or 0.24 percent to close Monday at 27,588.37.

China's Shanghai Composite, finished flat. The benchmark index added just 1.54 points or 0.04 percent to 3,524.10.

In Hong Kong the Hang Seng shed 309.09 points or 1.245 percent to close at 24,656.46.

On foreign exchange markets, the U.S. dollar drifted higher. The euro nudged down to 1.1321 by the Sydney close. The British pound was softer at 1.3546. The Swiss franc was little changed at 0.9141. The Japanese yen edged up to 113.78.

The Canadian dollar was weak at 1.2576. The Australian dollar gave up early gains to edge down to 0.7160. The New Zealand dollar was unwanted at 0.6709.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Taiwan Sun.

More Information

32 ℃

Mostly Cloudy in Taipei/Songshan

Business

Section

US consumers continue shopping at Costco, quarterly earnings rising

SEATTLE, Washington: As Americans are continuing to spend and store memberships remain largely intact amidst surging inflation, Costco is expected ...

Amazon U.S. clothing store requires apps, touch screens

LOS ANGELES, California: As people are again leaving their homes to go shopping following the easing of COVID-19 restrictions, Amazon.com ...

UK to investigate anti-competitive Google ad sales

LONDON, England: The UK's Competition and Markets Authority has launched its second investigation into the advertising sales practices of Google.According ...