INGOT Brokers AU | Asian market report (2017-07-11)

Asian market report (2017-07-11)


Asian stock markets ended Tuesday’s trading session in positive territory as all eyes are on tomorrow’s testimony by Fed Chair Janet Yellen, also markets weighted the decline in the yen which reached its lowest levels. in four months.

The yen reached its lowest points in four months to trade against the dollar at 114.38 as investors kept an eye on the interest rate differential between U.S. Treasuries and Japanese government bonds (JGB) as the U.S. Federal Reserve appeared set to pursue a more hawkish policy, while the Bank of Japan continued its quantitative easing to keep rates in Japan low.

Elsewhere in South Korea, the Kopsi advanced by 0.58 percent, to close at 2,396, moreover equity markets in China ended today’s session in mixed territories with Hong Kong's Hang Seng Index advanced 1.5 percent, The Shanghai Composite slipped 0.29 percent, or 9.4504 points, to close at 3,203.1815, and the Shenzhen Composite declined 0.723 percent, or 13.7715 points, to finish at 1,891.5965.

Japan Stock Exchange:

Japan stock markets ended Tuesday’s trading session in the green after the huge losses in the yen against the dollar, the yen recorded its lowest levels against the dollar since four months. The Nikkei 225 gained 0.57 percent, or 114.5 points, to close at 20,195.48.

The best performers of the session on the Nikkei 225 were Chugai Pharmaceutical Co., Ltd. which rose 6.49% or 265.0 points to trade at 4350.0 at the close. Meanwhile, Minebea Mitsumi Inc added 3.41% or 61.0 points to end at 1850.0 and Sumitomo Heavy Industries, Ltd. was up 3.35% or 26.0 points to 802.0 in late trade.

The worst performers of the session were JGC Corp. which fell 1.95% or 36.0 points to trade at 1813.0 at the close. Suzuki Motor Corp. declined 1.77% or 95.0 points to end at 5258.0 following a report issued by Nikkei that the Japanese finance ministry would not sell shares of the company as planned, and Toshiba Corp. was down 1.72% or 4.4 points to 250.8.



Australia Stock Exchange:

Australia stock market ended Tuesday’s trading session up supported by the gains in the Metals & Mining, Resources and Materials sectors. Australian benchmark S&P ASX 200 advanced 0.08 percent to close the session at 5,728.9.

Meanwhile In the currency markets, The Australian dollar edged up following the rise in iron ore prices overnight to above $60 a ton. The Aussie dollar traded at $0.7623.

The best performers of the session on the S&P/ASX 200 were OZ Minerals Ltd which rose 4.72% or 0.350 points to trade at 7.770 at the close. Meanwhile, Mineral Resources Ltd added 4.03% or 0.460 points to end at 11.870 and Fortescue Metals Group Ltd was up 3.93% or 0.200 points to 5.290 in late trade.

The worst performers of the session were Iron Mountain Inc which fell 3.34% or 1.51 points to trade at 43.72 at the close. Nanosonics Ltd declined 2.63% or 0.065 points to end at 2.405 and Retail Food Group Ltd was down 2.32% or 0.105 points to 4.415.

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