NEW YORK (AP) – All times local.
2:00 a.m.
Asian stock markets were mostly lower Tuesday ahead of U.S. Federal Reserve and Bank of Japan policy meetings, as commodity prices lost steam, dragging on big miners.
Japan’s Nikkei 225 fell 0.5 percent to 17,359.80 and South Korea’s Kospi rose 0.2 percent to 2,018.99. Hong Kong’s Hang Seng index dropped 0.6 percent to 21,171.76 and Australia’s S&P/ASX 200 shed 0.4 percent to 5,280.90. The Shanghai Composite index was nearly flat at 2,945.83. Taiwan was higher but most markets in Southeast Asia fell.
Investors are not expecting the Federal Reserve to change policy this month but its two-day meeting will be watched for any indications about it future moves and when it would resume rate hikes.
A string of economic reports are due before the Bank of Japan’s monthly policy meeting on Thursday, including Japan’s consumer price index, unemployment figures, retails sales and industrial production. Expectations have risen that the BOJ will opt for more stimulus.
U.S. stocks slipped in quiet trading on Monday. The Dow Jones industrial average fell 0.2 percent to 17,977.24. The Standard & Poor’s 500 index lost 0.2 percent to 2,087.79. The Nasdaq composite index slid 0.2 percent to 4,895.79.
Benchmark U.S. crude added 34 cents to $42.98 per barrel in New York.
The dollar fell against the yen but rose against the euro.