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Asian markets stay positive ahead of NFP

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 6, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Mumbai) - Stocks on the Asian bourses are seen trading mixed, unimpressed by the negative close on the Wall Street overnight and by the drop in energy prices. While traders prefer to stay on the side-lines ahead of the highly-influential US labour market report due later today, which is likely to confirm a Fed Dec rate hike.

    Hong Kong markets decline on profit-taking

    The Japanese stocks continue to trade higher as the exporters benefit from a weaker yen, after USD/JPY reached fresh two and a half month highs at 122 on Thursday. However, the gains remain capped as markets await BOJ Governor Kuroda’s speech for fresh insights on monetary policy outlook. Meanwhile, the Nikkei advances over 0.47% to 19,206.

    The Australian benchmark, the S&P/ASX rebounded higher, after sliding nearly 1% yesterday. However, mixed RBA’s SoMP and lower commodities prices continue to dampen investors’ sentiment. The index trades 0.35% higher at 5,211.

    While the Chinese indices trade mixed, with the mainland’s China’s Shanghai Composite (SSEC) index, rising 0.54% at 3,541. While Hong Kong’s Hang Seng slides on the back of profit-taking, snapping a two-day winning streak, down nearly -1% at 22,836.
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