Market Commentary - Foreign Markets
China Shanghai Composite index down 0.35% As on : 21-Aug-24  17:03

Asian stocks fluctuated before ending mixed on Wednesday as investors awaited cues on future rate cuts in the U.S.

Minutes of the Fed's July meeting due to be published later today ad Fed Chair Powell's keynote speech at Jackson Hole Symposium on Friday are expected to provide greater clarity on monetary policy easing.

The dollar extended its weakness against other major currencies, helping gold prices push higher in Asian trading. Oil was little changed as estimates showed swelling U.S. crude inventories.

China's Shanghai Composite index dropped 0.35 percent to 2,856.58 and Hong Kong's Hang Seng index fell 0.69 percent to 17,391.01.

E-commerce giant JD.com plummeted 8.7 percent after its biggest shareholder Walmart sold its stake in the firm.

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