INGOT Brokers Australia | Asian market report (2017-06-08)

Asian market report (2017-06-08)

Overview:

Asian Market ended Thursday session mostly in the green with the Japanese Nikkei being the only exception that finished the session lower, Markets have been relatively quiet ahead of today’s risky events known as “Trio Thursday” by economists.

Markets are anticipated to set it eyes on the U.K election, recent polls have shown that Theresa May’s Conservative party will emerge victorious and maintain their parliamentary majority, while other polls show that Labour has slightly closed the gap between the two parties.

Also on traders radar will be the upcoming European central banks interest rate decision and the press conference held after the decision, as markets will keep a close eye on Mario Draghi to asses whether he changed his dovish stance to a more hawkish position.   

Over in America, Former FBI director James Comey is set to testify on Thursday on whether U.S president Donald Trump asked Comey to drop an investigation in regards to ex-national security advisor Michael Flynn. However, according to Trumps outside attorney, James Comey confirmed that Trump was not under investigation in the review of alleged Russian interference with the U.S presidential election.

In China, equity markets were higher in light of cautious trade.  Hong Kong’s Hang Seng index rose 0.34 percent to trade 26,063.06 at the close, while Shanghai Composite added 0.32 percent to end at 3,150.33 and Dow Jones Shenzhen was up 0.37 percent to end the session at 498.88.

Elsewhere, South Korea’s Main benchmark Kospi slightly underperformed it however managed to edge higher late in the session, the benchmark was pressured by recent North Korean missile test.  The index rose 0.15 percent to settle at 2,363.57 late in the session.            

 

The Japanese Stock Exchange:

Japanese stocks ended Thursday’s session lower as risk sentiment weighed on prices, drops in Retail, Construction and Insurance sectors drove downwards.

Japans benchmarks Nikkei 225 fell by a margin of 0.38 percent to end the session at 19,909.26.

The benchmark’s best performers on Tuesday’s session were Nippon Suisan Kaisha, Ltd whom gained 7.21 percent to end the session at 654.0. Followed by Toshiba Corp. that rose 5.31 percent to trade at 285.6 at the close. Meanwhile, Toho Zinc Co., Ltd. added 4.95 percent to close at 445.0.

On the other hand, the worst performers were Dentsu Inc. that saw a drop of 3.16 percent to close the session at 5,510.0, and Trailed by Mitsui Fudosan Co., Ltd. which fell by 2.62 percent to trade at 2,583.0 and Suzuki Motor Corp. declined 2.52 percent to end at 5,330.0.

Overall declining stocks outnumbered the rising ones by 1779 to 1270 and 297 closed flat in Tuesday’s session.

USD/JPY gained by 0.29 percent to trade at 110.11, while EUR/JPY gained 0.06 percent to trade at 123.68.

   

Australia Stock Exchange:

In Australia, Shares closed higher on Thursday, pushed up by gains in Healthcare, Financials and Utilities sectors.

The Aussie Benchmark ASX 200 gained 0.17 percent to end the session at 5,676.60.

The best performers of the session on AXS 200 were Bellamys Australia Ltd which was up by a margin of 5.69 percent to end the session at 5.760. While, Sigma Pharmaceuticals Ltd appreciated by 4.29 percent to trade 0.850 at the close, followed by Platinum Asset Management Ltd which rose 3.59 percent to end at 4.620.

Meanwhile, the Worst performers in the session were Independence Group NL whom dropped 4.78 percent to end at 0.170. Meanwhile, Northern Star Resources Ltd tumbled 3.52 percent to close at 4.940 and Nanosonics Ltd dropped 3.38 percent to end the session at 2.570.

The Australian Stock Exchange saw the number of falling stocks outweigh the number of rising ones by 605 to 474, while 349 remained flat.

The AUD/USD fell 0.05 percent to trade at 0.7542.

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