Japanese stocks slump after poor trade figures once again
A mix of poor data and geopolitical tensions are weighing on Japanese stocks today as Asian markets look more tepid in anticipation of the Fed decision later today.
The Hang Seng is trading flat while Chinese stocks are a tad higher on the day, with positioning flows cited ahead of the Fed announcing another rate cut in US trading later.
Overall risk sentiment remains more flat/cautious with bond yields little changed as we begin the session. US futures are a little weaker – down by ~0.2% – and European equities should reflect that at the open as well.
Looking ahead, it’s all about the countdown to the Fed so we may be in for a more slow-paced and subdued session in European trading today.