INGOT Brokers Australia | Asian market report (2017-06-14)

Asian market report (2017-06-14)

Asian equities were mixed on today’s trading session as investors are awaiting the US Federal Reserve interest rate decision later today as well as the recovery in the US tech stocks after witnessing two days consecutive sell-offs.

At the time, the Australian Dollar rose by 0.03% at 0.7539 supported by China’s, it major trading partner, better than expected industrial output while the Japanese Yen strengthened against the US Dollar at 109.95 ahead of the US Federal Reserve interest rate decision later during today’s trading session.

In china, The Shanghai Composite Index lost 0.73 percent to end at 3,130.67 despite the positive economic data showing slow growth as it bid to engineer a gradual slowdown by to prevent growth from declining too rapidly in an important political year.

The Government showed that showed retail sales in May rose 10.7 percent from a year earlier, a small gain over the 10.3 percent rate for the first four months of the year and factory output rose 6.5 percent over a year earlier.

In addition to, growth in investment in factories, real estate and other fixed assets decelerated to 8.6 percent over a year earlier in the first five months of 2017, down 0.3 percentage points from the rate in January-April.

Moreover, in Japan the Nikkei lost 0.08 percent to settle at 19,883.25 as Toshiba fell under pressure over reports that it is facing another huge law suit over what it called “accounting issues.

While automaker’s giants witnessed some gains, Toyota rose 0.3 percent and Honda added almost 1 percent.

The Australian equities were in the green, with the ASX 200 gaining 1.06 percent to end at 5,833.90 extended its solid gains for the second consecutive trading session.

These gains were led by the big four banks’ gains, CBA added 1.4 percent, Westpac rose 1.6 percent, NAB added 0.6 percent and ANZ rose 0.8 percent, in addition to the Biomedical shares including Cochlear and Resmed Cochlear that reached fresh all-time high rising 3.2 percent and Cochlear adding 0.6 percent while Resmed closed up 2.2 percent.

© Copyright 2017

The information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered herein reflects Gotinsiders.com current judgment and may change without notice. Users acknowledge and agree to the fact that, by its very nature, any investment in shares, stock options and similar and assimilated products is characterized by a certain degree of uncertainty and that, consequently, any investment of this nature involves risks for which the user is solely responsible and liable.