With traders refraining from making big moves ahead of the US central bank meeting that is to start late on Tuesday, the Asian markets presented a ray of hope to investors by way of modest gains. Although the Federal Reserve is unlikely to make any major changes to its policies in the meeting, markets are on the lookout for whether the Fed puts an expiry date on its large-scale stimulus program.
Investors in no Mood
Anthony Lam, Credit Agicole CIB Hong Kong said that investors are in no mood to place money on the markets until the conclusion of the Fed meeting. His prediction is that at least for the day the stocks will ‘trade in relatively tight ranges’.
Two Asian countries whose stocks fared better on Tuesday as compared to Monday were Japan and South Korea. While Japan’s benchmark index recovered some of its lost territory by 1.4%, South Korea’s Kospi advanced by 0.8%. Markets in China, Taiwan and Indonesia also climbed moderately.