Asia-Pacific markets lower following Wall Street’s negative lead ahead of the Fed expected


Japan -1.25%.

China -0.55%.

Hong Kong -1.61%.

Australia -1.62%. Australian data – Westpac Leading Index for August -0.05% m/m (prior -0.17%).

India +0.02%.

Overnight in the U.S., the Dow Jones Industrial Average dropped 313.45 points, or 1.01%, to 30,706.23. The S&P 500 slid 1.13% to 3,855.93 and the Nasdaq Composite slumped 0.95% to 11,425.05.

New Zealand Credit Card Spending (August) +5.1% m/m (prior 3.2%) & +29.4% y/y (prior 5.1%).

Oil prices slid on Wednesday, extending the previous day’s losses, as investors braced for another aggressive interest rate hike from the U.S. Federal Reserve that they fear could lead to recession and plunging fuel demand.

Brent crude futures dropped 26 cents, or 0.3%, to $90.36 a barrel by 0040 GMT after falling $1.38 the previous day.

U.S. West Texas Intermediate crude was at $83.74 a barrel, down 20 cents, or 0.2%.

Gold prices on Wednesday lingered near their lowest level since April 2020, as investors prepared for the likelihood of another super-sized interest rate hike from the Federal Reserve in its effort to tackle inflation.

Spot gold was flat at $1,663.68 per ounce, as of 0324 GMT.

U.S. gold futures were also trading flat at $1,671.90.

Spot silver edged 0.2% lower to $19.28 per ounce, platinum rose 0.3% to $925.31 and palladium fellv1.1% to $2,144.91.

U.S. futures higher. Dow Jones +0.14%; S&P 500 +0.13%; Nasdaq +0.09%.



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