World stock markets subdued after China drop
Source: AP
By ELAINE KURTENBACH
TOKYO (AP) — World stocks were subdued Tuesday after China's market slumped and the Bank of Japan kept its monetary policy unchanged ahead of a much anticipated U.S. Federal Reserve decision this week on whether to raise interest rates.
KEEPING SCORE: Britain's FTSE 100 fell almost 0.1 percent to 6,083.24 and France's CAC40 was flat at 4,553.95. Germany's DAX rose 0.4 percent to 10,170.13. Prospects for Wall Street were cloudy, with Dow and S&P futures both flat.
BANK OF JAPAN: Japan's central bank decided to not change its policy calling for 80 trillion yen ($666 billion) in annual asset purchases by the central bank, to help spur inflation and stimulate growth. A small minority of experts had speculated the bank could spring a surprise increase in its asset purchases to combat recent recurring signs the recovery is faltering. The central bank said the economy was still in a "moderate recovery," but said exports and production were affected by slowing growth in emerging markets.
ANALYST'S VIEW: "Speculation remains rife that China and Japan are moving closer to more fiscal stimulus," analysts at brokerage DBS said in a research note. "It is unclear what course of action by the Fed would be better for sentiment. With sentiment staying sour, signals of a delayed rate hike may perversely lead to further worries about the global economy."
FULL story at link.
Pedestrians are reflected on an electronic stock board of a securities firm in Tokyo Tuesday, Sept. 15, 2015. Shares meandered in Asia on Tuesday as investors awaited a policy statement from the Bank of Japan as well as the U.S. Federal Reserve’s decision later this week on whether to raise interest rates. (AP Photo/Eugene Hoshiko)
Read more: http://bigstory.ap.org/article/01af22a4d92448638ea0f08501012ce5/asia-stocks-mostly-lower-boj-policy-unchanged-ahead-fed