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Asian stocks edge higher, Nikkei bucks the trend

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 7, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Mumbai) - Asian markets are seen defending moderate gains on Wednesday, shrugging off a weak close overnight on the Wall Street, as the recent rally in commodity prices, especially the oil prices is boosting the energy stocks higher.

    Nikkei weighed by stronger yen post BOJ

    The Japanese stocks ditched their other Asian counterpart and fell in the red, largely on the back of a stronger yen versus the US dollar after the Bank of Japan (BOJ) left its monetary policy unchanged. At the moment, USD/JPY trades -0.30% at 119.90 while the Nikkei drops -0.45% to 18,104.

    The benchmark Australian S&P/ASX 200 trades with mild gains, lifted by resource stocks as copper and oil prices continue to extend higher. The index edges 0.40% higher to 5,186 points.

    Chinese markets stay closed in observance of National Day – Golden Week. While Hong Kong’s Hang Seng shot higher by over 1% to 22,059.
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