|
|
Asian markets were mixed yesterday, with Japanese shares hit by a pick-up in the yen, while Hong Kong and Shanghai saw healthy buying despite worse-than-expected trade data out of China.
Traders were also awaiting a speech by US Federal Reserve chief Ben Bernanke and the release of minutes from the bank’s latest meeting for an idea about the future of its stimulus programme.
Tokyo’s Nikkei index was down 0.39%, or 56.30 points, at 14,416.60 and Seoul ended 0.34% lower, giving up 6.19 points to 1,824.16.
However, Shanghai jumped 2.17%, or 42.68 points to 2,008.13, while Hong Kong added 1.07%, or 221.55 points, to 20.904.56. Sydney ended 0.4%, or 19.7 points, higher at 4,901.4.
“The broad trend in China’s trade data is in line with GDP growth slowing to levels that have already been priced in by financial markets,” AMP Capital’s Nader Naeimi told Dow Jones Newswires.
“Today’s data don’t add to the negative case and I think the market will react a lot more to good news than bad news from here.”
Investors will pore over the minutes of the Fed’s most recent meeting for an idea of when it will bring an end to its $85bn-a-month bond-buying scheme aimed at kickstarting US growth.
On forex markets, the dollar rowed back after enjoying some recent buying in anticipation of the end of stimulus, which would mean fewer dollars in financial markets.
The greenback fell to ¥100.10, compared with ¥101.11 late Tuesday in New York.
The euro fetched $1.2821 and ¥128.32, compared with $1.2787 and ¥129.29.
Oil prices rose, with New York’s main contract, light sweet crude for delivery in August, up $1.14 to $104.67 a barrel and Brent North Sea crude for August delivery adding 51¢ to $108.32.
Gold was at $1,253.50 per ounce at 1050 GMT, compared with $1,249.90 late Tuesday.
In other markets, Taipei rose 0.51%, or 40.51 points, to 8,011.69; Manila dropped 0.3%, or 18.84 points, to 6,308.18; Wellington rose 0.73%, or 33.08 points, to 4,556.77; Bangkok closed down 0.73% or 10.28 points to 1,388.41; Kuala Lumpur gained 2.22 points, or 0.13%, to close at 1,768.71; Singapore closed up 0.3%, or 9.41 points, at 3,188.04; and Jakarta ended up 1.7%, or 74.84 points, at 4,478.64.