INGOT Brokers AU | Asian market report (2017-07-25)

Asian market report (2017-07-25)

Asian stock markets ended Tuesday’s trading session with small losses as traders are keeping an eye on the upcoming Federal Market Open Committee (FOMC) meeting. Also, the political uncertainty in the White House is putting pressure on the dollar and the markets in general.

Market sentiment was likely to remain subdued as investors awaited risk events, such as the outcome of the FOMC meeting and release of U.S. second-quarter GDP, due later in the week. Also, Uncertainty over the Trump administration's policies was also expected to weigh on the dollar in the near term.

Elsewhere in the currency markets, The dollar index, which measures the greenback against a basket of currencies, declined to its lowest levels in 13-months after giving up slight gains made in the previous session. The dollar index traded at 93.850, after falling as low as 93.815 earlier in the session. Against the yen, the greenback retraced earlier gains, last fetching 110.93 yen compared to levels around the 111.1 handle seen earlier in the week.

Moreover, Japan's benchmark Nikkei 225 index reversed earlier gains to close below the flat line. The index slipped 0.1 percent, or 20.47 points, to close at 19,955.2 as the yen gained against the dollar later in the session.

Furthermore, South Korea's Kospi slid 0.47 percent, or 11.63 points, to finish the session at 2,439.9.

In Australia, the S&P/ASX 200 advanced 0.68 percent, or 38.529 points, to close at 5,726.6, driven by broad-based gains across most sectors except the telecommunications services and energy sub-indexes. The industrials and health care sub-indexes closed higher by 0.98 percent and 1.56 percent respectively.

Finally, Hong Kong's Hang Seng Index declined 0.1 percent. On the mainland, the Shanghai Composite closed off 0.21 percent, or 6.8332 points, at 3,243.7657 and the Shenzhen Composite shed 0.327 percent, or 6.0730 points, to end at 1,848.5922.

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