Free Trial

Stocks are mixed in Asia-Pac on Wednesday,...>

STOCKS
STOCKS: Stocks are mixed in Asia-Pac on Wednesday, the 2018 rally pausing
despite yet more increases in US stocks. Equity indices in South Korea and Japan
lower. Japanese stocks being hit by yesterday's mini "taper tantrum" after the
market interpreted the cut in BoJ purchase ops as a tightening signal. The
prospect of less easy money and a stronger yen has sent the Nikkei 225 into
negative territory, but the taper effect has meant that bonds stay lower. Also
weighing on indices today is the news that progress has been slow in talks
between North and South Korea. North Korea are said to be intransigent in their
nuclear position and will continue to progress their nuclear weapons programme.
- In Australia the ASX 200 is down 28 points at 6,107, the index squeezed out
some small gains at the open but quickly began trending lower. 10/11 sectors are
in the red, led lower by Real Estate and Telecommunications.
- China are bucking the negative trend in the region, the Shanghai Comp up 12
points at 3,425, while in Hong Kong the Hang Seng is up 233 points at 31,246.
The PBOC weakened the USD/CNY to the lowest level since Dec 29 and the biggest
weakening since September. 

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.