Asian Shares Tumble, Nikkei Falls Against Yen

May 3, 2016

Japan’s Nikkei fell after the dollar roughly hit an 18-month low against the yen, which sent Asian shares to stumble.

Analysts forecast that Germany’s DAX would hit 0.06 percent higher when the market opens, while France’s CAC 40 was anticipated to remain steady. Meanwhile, UK markets are closed due to a public holiday.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.4 percent, after Wall Street witnessed losses followed by sluggish earnings.

It was reported that activity in China’s manufacturing sector grew for two straight months in April, hitting marginally alone.

In addition, concerns were raised over the steadiness of a recent-pick up in the economy.

Meanwhile, Australian shares dropped 0.3 percent after seeing weaker results from Westpac Banking Corp.

A policy review meeting is anticipated from Australia’s central bank board on Tuesday and its cash rate is highly expected to post 2.0 percent, though, according to a few analyst they are expecting a cut.

Markets were closed on Monday and countries included are Hong Kong, China, Taiwan, Singapore, and Malaysia.

Japan’s Nikkei stock index lost 3.1 percent at the close after investors respond to the recent dashing gains of yen.

Tyton Capital Advisor’s co-managing director, Martin King, said, "We've started the week with a precipitous drop in Japanese equity as the market responds to the strength of the yen."

Thin liquidity improved the activity movement, as Japan made its way in the middle of its Golden Week series of holidays. Markets were closed on Friday, and will also be closed on Tuesday, Wednesday and Thursday this week.

The greenback was slightly higher against the yen, hitting 106.51 after declining as low as 106.14, being its lowest level since October last year. It posted its worst week against the yen since the financial crisis eight years ago after the Bank of Japan aimed not to meet stimulus measures at its policy meeting.

Publication source
Trade12 information  Trade12 reviews

December 2, 2016
Equities headed broadly south in Asia overnight
Revealed a solid 53.2 November ISM reading and a 0.5% October construction spending rise that followed big upward Q3 revisions, both of which lifted prospects for GDP. We also saw a 17k Thanksgiving week spike in claims that reversed the remarkably tight 333k Veteran's Day figure...
December 2, 2016
Silver lining for precious metals?
I do apologise in advance for bombarding you with lots of commodity reports, but ahead of Friday’s NFP report, the FX markets tend to create lots of false moves, so it is difficult to make much of todays moves...
December 2, 2016
Payrolls Friday. USDJPY doji, third time's a charm
Its payrolls Friday and the markets are expecting to see a solid print for November following Wednesday's ADP payrolls increase. Yesterday, the ISM and Markit's manufacturing PMI showed a strong increase in the reading...

FIBO Group Rating Trade Rating
HotForex Rating
Trade360 Rating
Vantage FX Rating
FXCM Rating

OptionFair Rating
Binary Brokerz Rating
Porter Finance Rating
365BinaryOption Rating
IQ Option Rating
TopOption Rating