Market Report - Asia Markets Await Fed

ANCHOR:
Asian markets ran in place today ahead of an expected 10th rate cut by the Federal Reserve since the global financial crisis began.

The Fed looks set to halve U.S. interest rates close to zero later today, while China signaled it may cut rates again after massive monetary and fiscal moves already taken.

Economic data from China have shown an abrupt slowdown while the nation tries to achieve a minimum of eight percent expansion.

Australia's central bank, meanwhile, indicated its dramatic easing campaign is set to slow, while its share benchmark eased ahead of the FOMC outcome.

Japan's Nikkei also edged lower as the finance minister urged the Bank of Japan to examine measures to help the economy and boost liquidity at its meeting this week.

In South Korea investors bought automakers and builders on hopes of more government stimulus measures for the industries.

Ahead of the Fed decision, the U.S. dollar hit a two-month low versus the euro, while oil steadied below 45 dollars, bolstered by expectations that OPEC will agree on its largest supply cut ever.

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News & Politics

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