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Asian Stocks Retreat Ahead of Fed Decision

October 30, 2019

Asian equity indices ended lower today as traders expect a 25 bps cut from Fed to protect the economy from slowing growth and the effects of the trade tensions, Markets now put only about a 30% chance of another rate cut in December, compared with about 70% earlier this month. Rumours that a “phase one” deal might not be ready to be signed at the Asia-Pacific Economic Cooperation summit in Chile in November weigh on stocks.