Asian stocks fell for a fourth day, poised for a three-month
low, after a gauge of Chinese manufacturing fell and as investors awaited a
Federal Reserve meeting starting tomorrow to gauge the timing of stimulus cuts.
Asian shares were trading lower ahead of the crucial US Federal Reserve meet.
Key benchmark indices in South Korea, Taiwan, Hong Kong, China, Singapore,
Japan and Indonesia fell by 0.02% to 1.43%.US stocks closed flat to slightly
higher on Friday after a choppy session as investors looked toward a Federal
Reserve meeting that could start the curtailment of the Fed's equities-boosting
stimulus program.
Metal and mining stocks extended their recent losses as
latest economic data showed that growth in China's manufacturing-sector
activity slowed to three-month low. China is the world's largest consumer of
copper and aluminum. Growth in China's manufacturing-sector activity is slowing
to three-month low, initial results from HSBC's monthly survey showed today, 16
December 2013.
- Jindal Steel & Power (down 2.1%),
- Sail (down 0.07%),
- JSW Steel (down 0.15%),
- Tata Steel (down 0.2%),
- Hindalco Industries (down 1.31%),
- Hindustan Zinc (down 1.21%),
- NMDC (down 1.52%)
- National Aluminum Company (down 0.13%) and
- Hindustan Copper (down 0.09%) declined
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