This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Asia Stock Markets Fall Ahead Of Fed Meeting

By PAMELA SAMPSON

BANGKOK (AP) â¿¿ Global stock markets fell Monday, led by a sharp dive in Japan, as traders awaited a packed schedule of economic data releases this week in the U.S. and a key meeting of the Federal Reserve.

Japan's benchmark Nikkei 225 sank 3.3 percent to 13,661.13, its first close below 14,000 since July 1, as the yen continued to reverse some its recent fall. Linus Yip, strategist at First Shanghai Securities in Hong Kong, said the Nikkei's sharp decline sparked jitters elsewhere in Asia. He added that slowing growth in China presented an additional reason for caution.

South Korea's Kospi fell 0.6 percent to 1,899.89, hurt by losses among technology shares. Hong Kong's Hang Seng lost 0.5 percent to 21,850.15. On the Chinese mainland, the Shanghai Composite Index shed 1.7 percent to 1,976.31 while the smaller Shenzhen Composite Index lost 1.9 percent to 941.33.

European stocks were mixed in early trading. Britain's FTSE 100 shed 0.4 percent to 6,563.21. But Germany's DAX rose 0.3 percent to 8,266 and France's CAC-40 gained 0.2 percent to 3,979.31. Wall Street appeared set for losses, with Dow Jones industrial futures falling 0.2 percent to 15,460 and S&P 500 futures shedding 0.3 percent to 1,681.80.

Analysts expect to see a drop in unemployment when the U.S. Labor Department releases employment figures for July at the end of the week, but some say it will not be enough to prompt an immediate scaling back of the Fed's bond-buying program, which has been helping to buoy the economy.

Traders have been cautious in recent days ahead of the Fed's two-day meeting, which begins Tuesday, for hints of when the central bank will start reducing its monetary stimulus.

"Our guess is that it won't happen until December and it could be delayed further yet," said analysts at DBS Bank Ltd. in a report.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,399.67 +19.26 0.12%
S&P 500 1,904.01 +17.25 0.91%
NASDAQ 4,316.0740 +57.6360 1.35%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs