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Asian shares flatline after Fed's neutral message


Added 05-02-19 03:03:01am EST - “Asian markets marked time on Thursday with two major centers - Japan and China -...” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “Asian shares flatline after Fed's neutral message”. Below is an excerpt from the article.

SYDNEY (Reuters) - Asian markets marked time on Thursday with two major centers - Japan and China - shut for holidays while the dollar held on to overnight gains after the U.S. central bank poured cold water on rate cut expectations.

Australian shares slipped 0.7 percent while New Zealand was up 1.2 percent and South Korea’s KOSPI index added 0.4 percent.

E-Mini futures for the S&P 500 were unchanged. In early European trades, the pan-region Euro Stoxx 50 futures were down 0.23 percent at 3,444, German DAX futures were 0.18 percent lower at 12,329, while FTSE futures were down 0.36 percent at 7,305.5.

Global equities markets have scaled new highs since the start of the year largely on expectations of easy monetary policies around the world while a positive tone on U.S.-China trade negotiations has also aided sentiment.

“Coming into May, the search for the next catalyst becomes an obvious necessary condition to give an answer to the traditional question: is it time to sell and go away?” said Claudio Irigoyen, economist at Bank of America-Merrill Lynch.

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