Asian shares on Monday slipped as investors braced for a Federal Reserve meeting at which it is expected to confirm it will soon start draining the massive lake of liquidity that has supercharged growth stocks in recent years.
South Korea’s KOSPI declined one and half percent and Hong Kong’s Hang Seng plunged 1.2 percent. Singapore’s Straits Times was trading 0.4 percent down while China’s Shanghai Composite index closed almost flat. However, Japan’s NIKKEI-225 added 0.2 percent.
European markets were also down in intra-day trade. London’s FTSE 100 slipped 1.2 percent while France’s CAC and Germany’s DAX, both declined 1.8 percent.
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