Asia markets fall, mirroring Wall Street losses ahead of Fed decision

Asia-Pacific markets fell on Tuesday, in line with losses on Wall Street, as investors held back ahead of the U.S. Federal Reserve’s decision on December 10.

The central bank is expected to cut interest rates by another 25 basis points at its last meeting of the year, bringing the Federal Funds rate to 3.5%-3.75%. However, experts said that the Fed will adopt a more data-dependent stance from now on.

“I wouldn’t be surprised if Jerome Powell said, ‘We’ve cut back and now we’re at a place where we really need to watch the data,’ and he’ll stop being hawkish because we’ve seen softness in the labor market,” said Stephen Kolano, chief investment officer at Integrated Partners.

Japanese markets started trading in positive territory before reversing gains. Nikkei 225 It fell 0.11%, while the broad-based Topix fell 0.17%.

South Korea’s kospi It fell 0.36%, but the small-cap Kosdaq was 0.29% higher.

of Australia S&P/ASX 200 It fell 0.19%.

Hong Kong Hang Seng index fell marginally, while China’s CSI 300 index fell 0.25%.

U.S. stock futures rose slightly Monday night on the back of President Donald Trump’s confirmation. Nvidia H200 chip sales to China in a deal that gave the US government a huge cut.

Nvidia gained 2.2% in after-hours trading. Real Social post In a statement made on Monday evening, it was stated that the chip manufacturer giant could send H200 chips to “approved customers” in China and elsewhere, provided that a quarter of the sales are paid to the US government.

overnight in the USA, S&P 500 While withdrawing by 0.35%, Nasdaq Composite It fell 0.14%. Dow Jones Industrial Average It fell 215.67 points or 0.45%.

—CNBC’s Sean Conlon and Alex Harring contributed to this report.