Asian stocks trade mixed, Nikkei extends losses

FXStreet (Barcelona) - The stocks on the Asian bourses swung between gains and losses amid increased nervousness as the Fed begins its 2-day policy meeting later today.

Australian stocks supported on rebound in commodities

The Japanese stocks extend losses for the second straight session and hovers near two-month lows as lack of fresh economic triggers and cautious trades before the Fed outcome, continues to weigh on the investors’ moods. USD/JPY now trades modestly flat at 121.02 while the Japanese benchmark index, the Nikkei drops -0.74% to 18,744.

Among other Asian indices, the Australian stocks are seen defending mild gains, underpinned by a tepid-recovery in the commodities’ prices, especially oil and copper, while the positive close on the Wall Street overnight also lifted the sentiment.

The Chinese indices also trading mixed with the China’s A50 index dropping -0.51% to 10,540 points, failing to benefit from the rally in property stocks. China’s property stocks climb to one-week highs after the Communist Party’s Politburo pledged to introduce new housing reforms and thereby stabilize the real estate market. The benchmark Shanghai Composite trades muted around 3,523. While Hong Kong’s, the Hang Seng gains 0.22% to 21,357.