Asian indices end down ahead of US Fed chair nomination


Key Asian indices ended down today as investors were wary as they awaited the nomination of the next chief of US Federal Reserve to be announced later today, and developments on the tax reform bill in the US.

Reports in the US say current US Federal Reserve Governor Jerome Powell is likely to become the US Fed chief.

Indices had gained earlier in the session after the US Federal Reserve said on Wednesday that economic growth was solid, setting the stage for an interest rate hike in December.

In other news, US dollar continues to trade firm, driven by the fiscal and monetary policy. Fed is likely to move on the interest rates in December, while there are strong prospects of tax cuts being delivered by Republicans.

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