2/8, 7:24 AM (Source: TeleTrader)
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Asian markets mixed on Powell's speech

Stock exchanges in the Asia-Pacific region were mixed on Wednesday on economic uncertainty prompted by Federal Reserve Chair Jerome Powell remarks. The policymaker cautioned that unfavorable data could tilt the Fed towards more monetary tightening, underlining that disinflationary trends are still not evident in all sectors.

Meanwhile, China's economic growth is projected to expand at a quicker pace this year. SoftBank Group Corp. posted a $5.9 billion net loss for the third quarter which seemingly fueled the negative sentiment.

Japan's Nikkei 225 declined by 0.29%, while Australia's S&P/ASX 200 rose by 0.35% at the closing bell. The Shenzhen Composite fell by 0.27% at 7:07 am CET. The Shanghai Composite was down by 0.28% at 7:15 am CET. South Korean Kospi rose by 1.22% a minute later, and Hong Kong's Hang Seng was flat.

The dollar stood flat against the Japanese yen, to sell at ¥131.11200 at 7:18 am CET.

Baha Breaking News (BBN) / AB