Asian markets closed mixed on the final trading of the week by recovering some of their losses which were made yesterday. The Fed meeting which is taking place next week was the main focus among traders who are trying to gauge if the Fed will initiate to taper their ultra loose monetary policy. The economic data released so far since their last meeting has completely placed all odds in the Fed’s corner to trigger the tapering button. The dollar has surged on the back of this news during this month against the yen. This weakness in the yen has helped the exporters to compete against their competition abroad.
The Nikkei index was the best performer during the session and it closed higher with a gain of 0.40%. The index is up by nearly 1.49% in the past 5 days. The Hang Seng index was the second best index during the session and it gained nearly 0.12%. However, the Shanghai index closed lower with a loss of 0.31%.
European stock markets are struggling for direction this morning after the US indices closed at their lowest point in nearly four weeks. Most major European indices are also heading towards their weekly losses. The FTSE MIB index is the best performing index during the session which is trading higher with a gain of 0.52%. The index is down by nearly 2.12% for the past five days. The IBEX index is the second best performer and is also trading higher with a gain of 0.25%. The CAC 40 and the DAX are trading higher with a gain of 0.07%, and 0.10% respectively.