Stock Markets Report 29th April

Asia stocks

Stocks in the Asian region were seen trading lower on Wednesday, while the Japanese markets were closed for a public holiday.

Hong Kong’s Hang Seng Index declined 0.31% to 28,355.22 points, while the Chinese mainland Shanghai Composite was down 1.06% to 4,428.55 points. 

The South Korean Kospi Index was flat at 2,148.35 during the early trading hours, while Australia’s benchmark S&P/ASX 200 Index slid 1.05% lower to 5,885.80 points.

Europe Stocks

The European Market declined on Wednesday.

The European Euro Stoxx 50 Index went down 0.25% to 3,706.24, while the French CAC 40 Index fell 0.34% to 5,155.25 at the time of writing. The UK’s benchmark FTSE 100 Index lost 0.19% to 7,017.13 and the German DAX 30 Index edged 0.22% lower to 11,785.27.

The German consumer price inflation for April is expected to come in at 0.4%, a slight rise from the previous month’s reading of 0.3% on annual basis.

Retail sales in Spain in March rose 3.7% on a yearly basis, following the 2.6% jump in the previous month.

FOMC Meeting

Traders and analysts will be focusing on the outcome of the Federal Open Market Committee policy meeting.  The US Federal Reserve will be ending its two-day monetary policy meeting later in the day and will release a statement.

The market will be focusing on the statement to be released for more clues on the rate hike timing.

The US gross domestic product report is also expected to be released later in the day and projected to show a 1% growth in the first quarter, compared to the 2.2% rise seen in the December quarter.