Asian stocks are on a mixed pattern

21 March, 2018

Asian stocks are on a mixed pattern, with some markets giving up some early gains and finishing the day lower. Most traders are focused on the Federal Reserve after it kicked off its March meeting in the previous session. Seoul's Kospi closed little changed after hovering slightly above the flat line earlier in the day. The benchmark dropped 0.02 % to close at 2,484.97. The Australian the S&P/ASX 200 drifted higher by 0.23 % to close at 5.950.30. Most Asian central banks will stand pat for the present time, even in case the Federal Reserve poised to raise borrowing costs later in the week.

While previous tightening cycles in the U.S. prompted many Asian countries are likely to move in lockstep, things are different this time. Australia's trade minister calls for a reinforcement of the global trade order. We need to avoid a scenario where "the big fish eat the little fish," according to Australian Minister for Trade, Tourism and Investment Steven Ciobo. Speaking at Credit Suisse Asian Investment Conference in Hong Kong , the minister recognized that there are some ongoing questions about the efficacy of the international trade regime, but he emphasized it should be strengthened. 

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