Asian Stocks Mixed Ahead of Warsh's Jackson Hole Address
Asian stock markets were mixed at the start of trading on August 28 as investors waited for US Federal Reserve Chair Kevin Warsh's address at Jackson Hole. The outcome of his remarks was expected to determine whether bond yields would continue their recent climb, weighing inflation against a softening economy.
The Nikkei 225 in Japan bucked the trend, rising 0.66%, while the Topix advanced 1.04%. However, other regional indices were weaker, with South Korea's Kospi leading losses at 1.04% and Hang Seng futures falling 0.5%.
The Japanese yen held steady at 159.33 per dollar, but investors remained cautious in Tokyo, watching for signs of currency intervention as the Finance Ministry prepared to release data on how much Japan spent defending the yen over the past month.