Most Asian Markets Declined as Investors Awaited the Interest Rate Decisions

 

Asian markets generally fell on Tuesday (Dec. 17) as investors anticipated interest rate decisions from the US and other Asian central banks this week. Sentiment remained cautious, with China's softer economic data reducing risk sentiment.

 

China’s markets stayed under pressure because domestic flat consumption and rising house prices dampened the sentiment. The mainland's Shanghai Composite Index slipped 0.73%. Hong Kong’s Hang Seng index fell 0.48%. But, the CSI 300 gained 0.26% slightly.

 

Likewise, Japan’s Nikkei 225 fell 0.24% as investors expected the Bank of Japan to keep interest rates steady on Thursday, countering earlier hike predictions.

 

South Korea’s KOSPI sank 1.29% amid lingering political instability following President Yoon's impeachment over allegations of attempting to impose martial law.

 

Elsewhere in Asia, as of press time, Indonesia’s Jakarta Composite Index falls 1.35% ahead of Bank Indonesia’s rate decision on Wednesday, with most analysts expecting the central bank to hold rates to support the rupiah. Thailand’s SET index drops 1.16% as markets awaited the Bank of Thailand’s rate decision amid uncertainty over future rate movements. Philippines's PSEi Composite slips 1.72%, with investors anticipating a third consecutive rate cut by the Philippine central bank.

 

 

On a brighter note, Australia’s S&P/ASX 200 gained 0.78%.