Asian markets posted losses in early opening today as they were pressured by the geopolitical concerns that came from North Korea’s missile test, however markets rebounded these losses to close mostly in green as investors attention turned to central banks and the impending release of the latest Fed meeting.
North Korea claimed the missile it launched on Tuesday was an intercontinental ballistic missile capable of carrying a heavy nuclear warhead, with U.S. military officials confirming that it was an ICBM. The missile landed in Japan's exclusive economic zone (EEZ).
Furthermore, equity markets in China closed Wednesday’s trading session in positive territory as markets break down the release of Caixin services PMI data for the month of June which showed that growth in China’s services sector slowed falling to 51.6 from 52.8 in May. The Hang Seng Index gained 0.34 percent by. On the mainland, the Shanghai Composite advanced 0.76 percent, or 24.2790 points, to close at 3,207.0829 and the Shenzhen Composite rose 0.876 percent, or 16.6112 points, to end at 1,913.1379.
Japan Stock Market
Japan stock markets ended today’s trading session in the green after getting support from the gains in the Automobiles & Parts, Insurance and Mining sectors. The Nikkei 225 gained 0.25 percent to close at 20,081.63.
Elsewhere in the currency markets, The U.S. dollar inched higher against the yen on Wednesday, the dollar rose 0.3 percent to trade at 113.59 yen, its highest level in nearly two months
The best performers of the session on the Nikkei 225 were SUMCO Corp. which rose 5.00% or 80.0 points to trade at 1680.0 at the close. Meanwhile, DeNA Co Ltd added 4.14% or 103.0 points to end at 2593.0 and Mitsui Mining and Smelting Co. was up 4.09% or 18.0 points to 458.5 in late trade.
The worst performers of the session were Mitsubishi Estate Co., Ltd. which fell 2.38% or 50.0 points to trade at 2051.5 at the close. Eisai Co., Ltd declined 2.18% or 136.0 points to end at 6105.0 and Mitsui Fudosan Co., Ltd. was down 2.06% or 55.5 points to 2633.5.
Australia Stock Market
Australia stock market ended Monday’s trading session in the red after loses recorded in the Utilities, Healthcare and A-REITs sectors. The S&P ASX 200 lost 0.35 percent to close at 5,763.30.
The Australian dollar firmed to trade at $0.7619. The Aussie dollar had traded as low as $0.7595 overnight following the Reserve Bank of Australia's decision to hold interest rates steady on Tuesday.
The best performers of the session on the S&P/ASX 200 were Flight Centre Ltd which rose 10.67% or 4.265 points to trade at 44.225 at the close, after the company reported guidance for the next year. The company said underlying profit before tax was expected to range between $325 million and $330 million. Meanwhile, Syrah Resources Ltd added 7.83% or 0.220 points to end at 3.030 and Galaxy Resources Ltd was up 6.40% or 0.110 points to 1.830 in late trade.
The worst performers of the session were Sonic Healthcare Ltd which fell 3.75% or 0.910 points to trade at 23.370 at the close. Mayne Pharma Group Ltd declined 2.42% or 0.025 points to end at 1.010 and Infigen Energy was down 2.33% or 0.018 points to 0.733.
© 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.