Asian stock markets are trading lower on Monday, following the broadly negative cues from global markets on Friday, as traders remain cautious and assess the impact of the crisis in the global banking sector, even as failing financial institutions secure a lifeline from peer institutions and central banks to avoid a global meltdown. Asian markets closed mostly higher Friday.
Traders also looked ahead to Wednesday's US Federal Reserve's monetary policy announcement, expecting the Fed to raise interest rate by 25 basis points. CME Group's FedWatch tool currently indicates a 43.2 percent chance the Fed will leave rates unchanged and a 56.8 percent chance of a 25 basis point rate hike.
Subscribe to continue reading the article.
This article is part of our premium content offering.Subscribe with a RTTNews subscription.
Subscribe NowAlready subscribed? Sign in
For comments and feedback: editorial@rttnews.com