Asian stocks trade mixed ahead of Central banks’ events

The stocks on the Asian bourses set-off the week on a stronger footing, although failed to sustain the momentum as the Australian stocks turned negative, despite firmer RBA outlook and higher commodities’ prices.

Further, increased nervousness heading into key central banks’ events this week also kept the investors on the back foot. Moreover, a lack of liquidity amid a holiday in Japan capped the upside on the Asian indices.  Additionally, bombings in New York City and New Jersey and a stabbing at a Minnesota shopping mall added to a general air of risk aversion.

Meanwhile, the Australian S&P/ASX 200 drops -0.30% to 5,281, the Chinese equities re-opened stronger, with the benchmark Shanghai Composite index up +0.45%, while CSI300 index rises +0.58%. Hong Kong markets rally +0.76% to trade above 23,500 levels.