Japan stocks continue their winning streak on the back of the Shinzo Abe electoral victory © AP
Tuesday 07:10 BST
What you need to know
- Mild gains in Asia equities
- European equities expected to slip
- US dollar dips
- Eyes turn to China’s leadership announcement
- Kiwi continues to wobble
Overview
Equities markets in Asia are making modest gains despite a downturn in US stocks overnight, while European indices are expected to fall
Hot topic
Asian equities markets saw mostly mild gains with the lingering post-election glow in Japan from Prime Minister Shinzo Abe’s emphatic election win on the weekend helping to offset the impact of a weaker session in New York.
The S&P 500 closed down 0.4 per cent on Monday.
Tokyo’s Topix index was the region’s best performer, up 0.3 per cent, followed by 0.1 per cent gains for the Shanghai Composite, Hong Kong’s Hang Seng index and South Korea’s Kospi. The S&P/ASX in Sydney was flat while the Shenzhen Composite dropped 0.3 per cent.
The Nikkei 225, which closed higher for the 15th straight day on Monday to mark its longest winning streak on record, added another 0.1 per cent.
However, IG markets strategist Jingyi Pan expected to see a “lacklustre tone” to remain in Asia through Tuesday. “I am not hopeful for another record [in Japan] without any fresh catalyst, but the post-election glow is expected to keep it supported,” Ms Pan said.
Eyes will be fixed on China with the closing of the 19th Communist party congress on Tuesday and the announcement of China’s new leadership under President Xi Jinping.
Forex and fixed income
Asian equities found some support from a weaker US dollar, with the dollar index, which measures the greenback against a basket of peers, slipped 0.2 per cent, continuing a sell-off seen late in Monday’s session.
The Japanese yen was trimming Monday’s losses, firming 0.1 per cent against the US currency. The Australian dollar was up 0.2 per cent. The New Zealand dollar was starting to wobble, down 0.3 per cent following a batch of policy announcements from incoming prime minister Jacinda Ardern.
In debt markets, the 10-year US Treasury yield was down 1.6 basis points to 2.368 per cent. The yield on the 10-year Australian note was down 2.4bp at 2.769 per cent while that on the Japanese equivalent was up 0.4bp at 0.063 per cent.
Commodities
The softer US dollar also buoyed oil prices, with international benchmark Brent crude rising 0.2 per cent to $57.47 a barrel after dropping 0.5 per cent on Monday. The US marker, West Texas Intermediate, was up 0.2 per cent at $51.99 a barrel.
The price of gold was up 0.1 per cent at $1,282 an ounce.
For market updates and comment follow us on Twitter @FTMarkets
http://ift.tt/2y1JOTO
Tidak ada komentar:
Posting Komentar