Regional Markets Generally Lower as Investors Eye Fed Meeting and China Data

Stock markets across Southeast and North Asia were generally under pressure today, as investors opted for profit-taking ahead of key macroeconomic events. Singapore’s Straits Times Index fell 0.4% to 3,180 points, and Hong Kong's Hang Seng Index saw a steeper decline, closing 0.9% lower at 15,650 points, dragged down primarily by technology and property sectors. The cautious sentiment stems from anticipation surrounding the upcoming US Federal Reserve (Fed) interest rate decision; while the Fed is widely expected to hold rates, guidance on the future path of rate cuts is crucial. Furthermore, the imminent release of China’s Manufacturing Purchasing Managers’ Index (PMI) data added uncertainty to regional sentiment. The Malaysian market, while relatively resilient, was still affected by the overall regional weakness.