Asian share markets struggled for inspiration on Wednesday, hampered by expectations of further reductions in the U.S. Federal Reserve’s stimulus and ahead of central bank meetings in Japan and Thailand.
The dollar remained broadly supported, trading around its highest level since mid-November against a basket of currencies, with many investors expecting the Fed to trim its bond buying further next week.
“Investors started the year with an optimistic global economic outlook. But so far, we haven’t seen much in the way of additional proofs for such optimism,” said Daisuke Uno, chief strategist at Sumitomo Mitsui Bank. Japan’s Nikkei was almost flat, while MSCI’s broadest index of Asia-Pacific shares outside Japan was off 0.1 percent.
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