Asian stocks trade mixed amid lack of fresh triggers

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 20, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Mumbai) - The stocks on the Asian bourses are trading directionless amid lack of fresh economic news, with the Nikkei retaining moderate gains following the positive close on the Wall Street overnight.

    China’s macro data continue to weigh

    The Japanese stocks opened higher and defend gains mainly riven by a bout of profit-taking after Monday’s heavy losses. While a weaker yen versus the US dollar lifts the sentiment around the exporters’ stocks. Meanwhile, USD/JPY modestly flat at 119.51 and the Nikkei gains 0.29% to 18,183 points.

    The Australian benchmark, the S&P/ASX is seen extending previous losses largely weighed by lower resource stocks following the sell-off in commodity prices. More so, losses in the banking stocks following the news that the Australian government accepted a majority of the recommendations of the Murray review into the financial system, also drags the index lower. The ASX trades -0.47% lower at 5,245 points.

    Stocks on the Chinese indices continue to weigh the impact of the recent series of poor Chinese data, with the mainland’s China A50 index, down -0.57 at 9,995. While Hong Kong’s Hang Seng follows suit and drops -0.45% to 22,948.
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