Asian shares dwindle ahead of Fed meeting, corporate earnings
Asian share markets recorded a subdued performance, while U.S. stock futures traded steadily on Tuesday. Investors’ sentiment was downbeat ahead of a U.S. Federal Reserve meeting, while a decline in corporate earnings weighed on hopes for a brisk economic recovery across the globe.
MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.14%. Australian shares shed 0.51%, while China stocks made minimal movements. Shares in Tokyo performed 0.11% lower as S&P 500 e-minis advanced 0.07%.
While rising vaccination rates heavily supported the markets as this will allow more economy to reopen, investors were still cautious ahead of a Federal Reserve meeting. The central bank is expected to keep its ultra-loose monetary policy in a bid to fuel the economy.