Home

 
India Bullion iPhone Application
  Quick Links
Currency Futures Trading

MCX Strategy

Precious Metals Trading

IBCRR

Forex Brokers

Technicals

Precious Metals Trading

Economic Data

Commodity Futures Trading

Fixes

Live Forex Charts

Charts

World Gold Prices

Reports

Forex COMEX India

Contact Us

Chat

Bullion Trading Bullion Converter
 

$ Price :

 
 

Rupee :

 
 

Price in RS :

 
 
Specification
  More Links
Forex NCDEX India

Contracts

Live Gold Prices

Price Quotes

Gold Bullion Trading

Research

Forex MCX India

Partnerships

Gold Commodities

Holidays

Forex Currency Trading

Libor

Indian Currency

Advertisement

 
ND: Asian Stock Markets Mixed On Fed Outlook, Yen Surge
 
Asian stock markets turned in mixed sessions on Thursday, with Hong Kong gaining on the overnight release of minutes of the US Federal Reserve's most recent policy meeting, and Tokyo retreating on a stronger yen.

In Tokyo, the Nikkei 225 retreated 1.55%, as traders signaled apprehension that the Bank of Japan has the resolve or tools to reduce the yen's exchange rate against the US dollar, or to increase domestic inflation. The Japanese currency increased to less than 100 to the greenback, compared to 120 at the start off the year, a higher exchange rate that is considered a negative in export-oriented Japan.

As if on cue, officials reported that Japan's July exports fell 14% year-on-year. Also suggesting weakness, imports fell 25% year-on-year, the sharpest drop in the survey since 2009. Additionally, there are reports of Japanese banks running out of government bonds to sell to the Bank of Japan, raising questions about how long the central bank's bond-buying program, called quantitative easing, can continue.
Leading the upside on a down day were non-ferrous metals maker Dowa Holdings (DWMNF, 5714:Tokyo), up 4.64%; followed by silicon-wafer maker Sumco (SUMCF, 3436:Tokyo), up 3.55%; and then Shinsei Bank (SKLKF, 8303:Tokyo), up 2.61%. On the down side were camera-maker Olympus (OCPNY, 7733:Tokyo), off 5.74%; and then mobile-service SoftBank (SFTBF, 9984:Tokyo), off 4.61%.

The Hong Kong Hang Seng Index rose 0.98% as traders embraced the overnight release of minutes from the last meeting of the Federal Open Market Committee of the US Federal Reserve, which indicated members plan to move cautiously in raising rates. The Hong Kong dollar is pegged to the US dollar, meaning that the Federal Reserve's actions in Washington D.C. have a direct impact on monetary policy in the former crown colony.

Leading the upside were mobile-service China Unicom (762:HK), up 7.24%, and then internet giant Tencent (700:HK), up 5.18% after reporting earnings. New Work Development (17:HK) rose 3.34%. On the downside were shoe-retailer Belle international (1880:HK), off 5.54%; and then Cathay Pacific (293:HK), off 4.87%.

On the mainland, the Shanghai Composite fell 0.17% to 3,104.11.

On other exchanges, the S. Korean Kospi rose 0.57%; the Taiwan TWSE gained 0.05%; the Australian ASX 200 fell 0.49%; the Thai Set inclined 1.11%, the Singapore Straits Times index retreated 0.22%, and in late trading in Mumbai, the Sensex was up 0.42%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Source