3 May, 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.
Market players kept their guards up as they await the US labor data report, a strong reading of which could urge the Federal Reserve to increase interest rates this month – a decision that would be bearish for non-interest bearing gold...
The US economic growth has been sluggish in the first quarter, although not as strongly as initially expected, amid an increase in spending on home architecture and a constant increase in inventory investment by business...
Oil prices increased more than 1 percent on Monday after Goldman Sachs stated that the market has ended for nearly two years of oversupply subsequent to a global oil disruptions and a market deficit...
The Australian and New Zealand dollars rallied against the greenback on Wednesday, but gains were anticipated to stay capped by lower prices of crude oil...
World stock markets rallied on Tuesday, fueled by a strong corporate earnings in Europe, including improvements on Greek debt talks and Japan’s new pledge in preparation to a weaker currency...
Gold prices ticked higher as the greenback slid to 16-month lows during the session earlier. On the Comex division of the New York Mercantile Exchange, gold delivery for June rallied at $1,303.85 per troy ounce, advancing $6.55 or 0.51 percent...
Shares in the U.S. plummeted following the decline of the stocks in the Asian market as the Bank of Japan left the interest rate unchanged...
Wall Street futures dropped on Friday after the Dow issued its first decline of more than 1% in two months, while investors are closely watching on data...
International Energy Agency claimed that the oil prices would be stable again in 2017 as the non-OPEC oil producers were expected to limit their production this year...