In This Article:
* MSCI Asia ex-Japan, Nikkei both barely lower
* Investors await central bank decisions, key data
* Sterling weaker after PM Johnson election call
* Asian stock markets: https://tmsnrt.rs/2zpUAr4
By Andrew Galbraith
SHANGHAI, Oct 25 (Reuters) - Asian shares wobbled on Friday as investors were reluctant to make big bets ahead of key central bank policy meetings next week against the backdrop of slowing global growth, while sterling extended its slide on a fresh bout of Brexit anxiety.
MSCI's broadest index of Asia-Pacific shares outside Japan was down just 0.03%, giving up small gains early in the day.
Chinese blue chips were up by less than 0.1% and Hong Kong's Hang Seng fell 0.4%. Shares in South Korea were also treading water.
Japan's Nikkei was a touch lower, while the Australian share market was a rare bright spot, adding 0.66% following on from gains on Wall Street.
The British pound, which had fallen 0.51% on Thursday after British Prime Minister Boris Johnson's call for a general election on Dec. 12, extended its slide, edging down 0.07% to $1.2841.
Johnson conceded on Thursday for the first time that he would not meet his "do or die" deadline to leave the European Union next week.
The continued uncertainty over Brexit comes against the backdrop of persistently sluggish global growth.
New orders for U.S.-made capital goods fell more than expected in September and shipments also declined, in a sign that business investment remains soft.
A Reuters poll of economists in recent weeks showed that most think a steeper decline in global growth is more likely than a synchronised recovery, despite central bank easing.
In his last meeting as president of the European Central Bank, Mario Draghi left ECB policy and guidance unchanged, but advised his successor to "never give up" on propping up the eurozone economy in the face of a worsening outlook.
The major focus for investors is next week's U.S. Federal Reserve policy meeting at which it's almost certain to cut interest rates for a third time this year.
"It's less about the Fed going to cut, it's more about if they're going to signal the pace, the magnitude of cuts", said Kay Van-Petersen, global macro strategist at Saxo Bank in Singapore.
Investors will also scrutinise a raft of data that will follow the Fed decision, he said. "It's really all about next week."
The Bank of Japan is also set to meet for a two-day meeting ending Oct. 31. The decision is expected to be a close call, though sources told Reuters the BOJ is leaning towards keeping monetary policy steady amid relatively stable markets and a lull in U.S.-China trade tensions.