Asian equities are traded mixed but generally decline due to the failure of the trade negotiations between the US and China, Sophie Kamarudin of Bloomberg Hong Kong on 24 August.
The Australian markets have taken a turn in the political picture in the country where finance minister Scott Morrison replaced Prime Minister Malcolm Turnbull at the helm of the government. Morrison becomes Australia's new prime minister after winning the Liberal Party's vote on Friday. Morrison will be Australia's sixth Prime Minister in less than 10 years.
Malcolm Turnbull, former prime minister of Australia on the left, and Julie Bishop, secretary of state, after the liberal party of the Liberal party in Canberra, Australia. 24 August 2018. Photographer: Mark Graham / Bloomberg.
The Australian dollar is expected to rise for the first time in three days and possibly recover from the US dollar and the shares in Sydney have risen, driven by health and consumer companies.
Asia also follows trade negotiations and reports.
The lack of concrete progress in the negotiations between China and the US this week brought new tasks, and the shares of Chinese companies resume the downturn.
In Hong Kong, the unsatisfactory financial performance of the AIA Group and China Life weighed on the mood, and Hang Seng broadened the decline.
But in Japan, the Nikkei 225 is going to a fourth growth period, and the yen is at a two-week low, in anticipation of James Powell to confirm Jackson Hall that the Fed is tightening monetary policy. Central bankers meet at Jackson Hall and investors expect what Fed Chairman Jerome Powell will say on Friday in a speech entitled Monetary Policy in a Changing Economy & # 39 ;, reports Bloomberg.
The meeting in Jackson Hall begins after the Fed's report on the previous meeting has shown that it is likely that interest rates will rise next month if the economy keeps its growth. The other topics to be seen in Powell's Paul Powell's speech are inflation and trade pressure.