Asian markets opened lower Monday (Jul 30), following Wall Street’s downbeat finish last week on fears that US economic growth has peaked, and with investors watching the Bank of Japan’s meeting. Investors are closely watching the Bank of Japan’s two-day meeting for any monetary policy changes AFP/KAZUHIRO NOGI On Friday, data showed the US economy expanded at an annual rate of 4.1 per cent in the second quarter, matching analyst expectations. The rise was due in part to strong consumer spending and a trade-war driven bump in exports. It was the fastest growth in almost four years. But despite US President Donald Trump hailing the figure as an “American economic miracle”, US investors were unimpressed, sending stocks lower on a sense that the figures represent a peak. US shares also took a battering from a largely disappointing round of earnings, with Exxon Mobil, Intel and Twitter all falling. In Asia stocks trading Monday, Japan’s benchmark Nikkei 225 index opened down 0.46 per cent, while the broader Topix index slipped 0.26 per cent. Investors are closely watching the Bank of Japan’s two-day meeting starting Monday, with widespread speculation about whether the central bank may be looking to alter its ultra-loose monetary… Read full this story
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