HONG KONG, Jan 31: Asian equities were mixed Wednesday after a tepid performance on Wall Street, with traders keenly awaiting what the Federal Reserve has to say after its much-anticipated policy meeting later in the day.
A key Treasury auction, US jobs figures and earnings from some of the worlds biggest companies including Apple and Amazon were also in view this week.
That all comes while the crisis surrounding Chinas fallen property titan Evergrande casts a shadow and stokes worries about the worlds number two economy.
While the Dow clocked up another record in New York, the S&P 500 and Nasdaq went into reverse as a forecast-beating read on US job openings reinforced the view that the labour market remained resilient despite interest rates sitting at two-decade highs.
And while that came with figures showing consumer confidence at a more than two-year high in January and inflation expectations falling, traders are worried the Fed will not cut borrowing costs as much as had been expected just a few weeks ago.
The odds on a March reduction are now about one in three, according to Bloomberg News, which added that hopes for a continued loosening of monetary policy through 2024 were also fading.
Fed guidance last month suggested about three cuts this year, but at one point markets had priced in as many as six.
Bank decision-makers are expected to conclude their most recent meeting later Wednesday by keeping rates unchanged, but their statement and comments by boss Jerome Powell will be pored over for clues about their thinking ahead of the March gathering. —AFP
