Equity indexes mixed in Asia

3 May, 2018

Markets in Asian traded mixed on Thursday as investors digested a widely anticipated interest rate decision by the US Federal Reserve while looking ahead to US-China trade talks.

Australia’s  S&P/ASX 200 ended 0.80 percent higher at 6,098.30 points, with most subindexes trading in green territory. Consumer staples and materials led gains in today’s session.

In South Korea, the Kospi benchmark eased 0.73 percent, with banking and manufacturing sectors pushing lower, while loses were balanced by rising automakers and tech stocks.

In China, the Shanghai composite rose 0.65 percent to 3,101.13 points and the Shenzhen composite followed with a 0.93 percent gain to close at 10,438.58. Financials and technology components weighed on both. Hong Kong's Hang Seng was down 1.40 percent by the time of this writing.

Japanese markets were closed in observance of the Constitution Day holiday.

Fed Keeps Rates Steady, Acknowledges Inflation Close To Target

The Federal Open Market Committee decided to keep its benchmark rate steady in a range between 1.50 percent and 1.75 percent, although it reassured its commitment with monetary normalization.

In its monetary policy statement, the US regulator said "overall inflation and inflation for items other than food and energy have moved close to 2 percent."

On the data front, ADP nonfarm employment change for April came in at 204,000 jobs, surpassing a forecasted 200,000 reading.

Ahead in the US session, initial jobless claims, trade balance for March, nonfarm productivity and unit labor costs for the first quarter are all scheduled for release at 12:30 GMT.

The services and composite PMI will be published at 13:45 GMT. A few minutes later, durable goods orders, factory orders and the ISM non-manufacturing PMI await in the cue.

Also in focus is a two-day meeting between Chinese and US trade representatives in Beijing, including Treasury Secretary Steve Mnuchin, Commerce Secretary Wilbur Ross and Trade Representative Robert Lighthizer.

US-China trade relations in focus13 Nov, 2019  

On Monday, Asian markets traded mainly in the red zone. Investors reacted negatively to Donald Trump's comments that the United States and...

Demand for gold grows amid growing tensions9 Oct, 2019  

Gold is gradually recovering its previously lost positions amid falling expectations of investors regarding the results of a new round...

Asian markets higher, oil rally goes on10 May, 2018  

Oil prices extended gains in early trading hours as expectations for further reductions in global supply levels continued to build following Donald...

What's behind the oil rally?9 May, 2018  

The oil market has been going crazy in the last few days. On Monday, the US West Texas Intermediate crude for June delivery rose nearly 1.5 percent...

If Buffett is not investing on bitcoin...7 May, 2018  

Last week we have spoken about Warren Buffett's dislike for Bitcoin and the whole cryptocurrency world. Fine... it is not that he doesn't like it...

Asian stocks extend gains30 Apr, 2018  

Asian equity markets were mostly higher on Monday, with investors focusing on geopolitical tensions over the Middle East while keeping an eye...

Equity indexes in Asia rise24 Apr, 2018  

Asian equity indexes moved into green territory on Tuesday despite a weak lead from Wall Street on the back of higher Treasury yields and as traders await...

Trading activity is on the lowest20 Apr, 2018  

The light news flow and a break in US-Chinese trade rhetoric give the equity markets a positive momentum amid so far positive reporting season in the US...

Earnings in focus: a necessary revision17 Apr, 2018  

UK Average Earnings excluding Bonus (3Mo/Yr) (Feb) is expected to come in at 2.8% from 2.6% previously. Claimant Count Change (Mar) is expected...