Asian Stocks Mixed

Asian stocks are struggling to get a steady direction with trading quietly ahead of Wednesday’s Fed meeting. The Nikkei came out with the news that the Japanese government’s plan to reduce the economic outlook for GDP for the year 20/21.

Fitch downgraded Asian Majors’ Outlook to negative but the rating is still A+ and as a result, the Nikkei 225 index decreased by 1.21% to 22382.

the MSCI index of Asia-Pacific shares outside Japan remains mostly unchanged, up 0.02% on a day to 700.00.

Australia’s ASX 200 drops 0.15% to 6,010 after Q2 Aussie Consumer Price Index (CPI). New Zealand’s NZX 50 bucks the trend with minor gains but South Korea’s KOSPI and Indonesia’s IDX Composite staying in the red with less than 0.20% loss.

Chinese stocks are still making some progress, with hopes that China will overcome the second wave of Coronavirus as it did in the first wave.