Global Stocks: Wall Street nervous before FED, Nikkei at fresh 15-year high
U.S. stocks declined in nervous trading ahead of the FED's rate statement scheduled for today at 18:00 GMT to get an indication on the timing of an interest rate hike. The wording will be closely watched to see if the pledge to be "patient" will be removed. The S&P 500 closed -0.33% with a final quote of 2,074.28 points. The DOW JONES index lost -0.71% closing at 17,849.08 points.
Chinese stocks continued to add gains on Wednesday on speculations that the Chinese government will take further steps to stimulate economic growth. On Sunday Premier Li Keqiang announced to further stimulate the economy if necessary. Hong Kong's Hang Seng is trading higher adding +0.90% at 24,117.40 points. China's Shanghai Composite closed at 3,577.04 points closing +2.10% - up for a sixth consecutive day reaching the highest level since June 2008. In the last 12 months the index rose by almost 77%.
The Nikkei extended its 15-year closing high on Wednesday again as sentiment remains bullish and investors bet on an economic recovery. The index closed +0.60% with a final quote of 19,544.48 points. Nintendo was the biggest winner after announcing to enter the smart-phone market.
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