Asia-Pacific markets traded lower on Tuesday as investors awaited the United States Federal Reserve’s annual Jackson Hole symposium, where Chair Jerome Powell is expected to deliver his final speech.
The gathering at the Jackson Lake Lodge will be closely monitored for clues about the Fed’s next policy move in September.
The geopolitical backdrop also drew attention, with U.S. President Donald Trump hosting Ukraine’s President Volodymyr Zelenskyy and European leaders at the White House.
By 11:25 pm AEST (1:25 am GMT), Australia’s S&P/ASX 200 slipped 0.6%, Japan’s Nikkei 225 eased 0.2%, and South Korea’s Kospi 200 edged 0.1% lower.
In economic news, Australia’s Westpac–Melbourne Institute Consumer Sentiment Index rose 5.7% to 98.5 in August, up from 93.1 in June, marking its highest level in three and a half years.
The rebound followed the Reserve Bank of Australia’s third rate cut of the year, which lowered the cash rate by 25 basis points to 3.6%.
On Wall Street overnight, trading was subdued. The Dow Jones Industrial Average dipped 0.1%, the S&P 500 finished flat, and the Nasdaq Composite added a marginal 0.03%.
Commodity prices were mixed. Brent crude advanced 1.1% to US$66.60 a barrel, while spot gold was little changed, ending 0.1% lower at $3,332.90 per ounce.
Chinese equities bucked the regional trend, with the Shanghai Composite climbing 0.9% to 3,728.0, extending a four-year high, while the CSI 300 also gained 0.9% to 4,239.4.
Hong Kong’s Hang Seng Index, however, dropped 0.4% to 25,207.5, while India’s BSE Sensex rose 0.8% to 81,273.8.
In Europe, trading was mixed. London’s FTSE 100 gained 0.2% to 9,157.7, while Germany’s DAX slipped 0.2% to 24,314.8 and France’s CAC 40 fell 0.5% to 7,884.1.
