Stock Market News

Asia stocks higher ahead of Fed, pound pressured by fresh Brexit pain.

SouthKorea’s KOSPI advanced 0.2% and Japan’s Nikkei added 0.7%. Australian stocks climbed as much as 0.7% to touch a record high, supported by buoyant mining shares and adding to the previous day’s tech-driven gains.

Asian stocks edged up on Tuesday as equity investors prepared for an expected US interest rate cut this week while heightened concerns in currency markets about a no-deal Brexit sent the pound to a 28-month low.
MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.15%.

South Korea’s KOSPI advanced 0.2% and Japan’s Nikkei added 0.7%. Australian stocks climbed as much as 0.7% to touch a record high, supported by buoyant mining shares and adding to the previous day’s tech-driven gains.

The U.S. FederalReserve begins a two-day policy meeting later on Tuesday, at which it is widely expected to lower interest rates by 25 basis points. If implemented, it would be the central bank’s first rate cut in a decade.

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