Asian Stocks Stagnate, Eyes on Fed Insights

Mark Eisenberg
Photo: Finoracle.net

Asian stocks traded within a narrow range on Monday as many major markets in the region were closed for the Chinese New Year.

**Australian** market saw a decline of 0.2%

Losses in pharmaceutical giant **CSL Ltd** as its phase 3 trial for a heart attack drug failed to meet its primary efficacy endpoint.

However, **ANZ Group Holdings** and **JB Hi-Fi Ltd** recorded strong earnings for the three and six months ending December 31, respectively.

**JB Hi-Fi** experienced a nearly 7% surge in its half-year profit, beating expectations.

Futures for **India’s index** hinted at a flat opening ahead of key data releases.

The Reserve Bank of India recently warned of potential inflation risks and indicated a hawkish stance.

Market sentiment in the United States will be influenced by the release of key **inflation data** on Tuesday which is expected to have eased slightly in January but remain above the Federal Reserve’s 2% target.

Several **Federal Reserve officials** are scheduled to deliver speeches this week, providing further insight into the central bank’s monetary policy outlook.

Most Asian markets have started the year on a sluggish note, except for the **Japanese stock market** which rose 0.2% on Monday.

Overall, Asian markets are awaiting key data releases and speeches from central bank officials to gauge future market trends and the trajectory of monetary policy.

Analyst comment

The news is a mix of positive and neutral. The decline in the Australian market due to CSL Ltd’s failed drug trial is negative, but the strong earnings reported by ANZ Group Holdings and JB Hi-Fi Ltd are positive. The overall sentiment in Asian markets is sluggish, except for Japanese shares which are buoyed by expectations of a dovish stance from the Bank of Japan. The market will be influenced by key economic data releases and speeches from central bank officials.

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Mark Eisenberg is a financial analyst and writer with over 15 years of experience in the finance industry. A graduate of the Wharton School of the University of Pennsylvania, Mark specializes in investment strategies, market analysis, and personal finance. His work has been featured in prominent publications like The Wall Street Journal, Bloomberg, and Forbes. Mark’s articles are known for their in-depth research, clear presentation, and actionable insights, making them highly valuable to readers seeking reliable financial advice. He stays updated on the latest trends and developments in the financial sector, regularly attending industry conferences and seminars. With a reputation for expertise, authoritativeness, and trustworthiness, Mark Eisenberg continues to contribute high-quality content that helps individuals and businesses make informed financial decisions.​⬤