Forex Marketz Daily Forex News – Fully Markets Update
Asian markets were mixed to lower this morning after a quiet overnight trading session on Wall Street. U.S. markets were closed for the Presidents Day Holiday.
The Asian benchmark in Japan, the Nikkei 225, was down 0.93 percent. Financials, manufacturing and energy related plays were all lower. Technology stocks were mixed.
Automakers were lower. Toyota fell 0.87 percent. Mitsubishi Motors was up by 0.36 percent in the afternoon. It outperformed the sector. There is news that Mitsubishi Corporation is looking into raising its share of Mitsubishi Motors to around twenty percent through a tender offer. Mitsubishi Corporation, was down 1.75 percent, as it has yet to reach a decision.
In other Asian markets, in Australia, the S&P ASX 200 was down by 0.09 percent. There was a solid gain of 1.65 percent in the information technology sector. This gain was offset by losses in other sectors. The heavily weighted financials sub-index lost 0.21 percent, and the materials sub-index was down by 0.57 percent.
Asian Investors watch Central Bank Headlines
In other Asian headlines, minutes from the Reserve Bank of Australia released this morning, showed that policymakers were rather unimpressed with the uptick in the global economy. RBA members noted that wages in the labor market “have yet to pick up.” This is despite the strong job market. The RBA, once again, highlighted that household debt is still “elevated.”
In Hong Kong, the Hang Seng Index reversed early losses to move higher by 0.12 percent. Financial markets, here, resumed trade after a long Lunar New Year weekend. Property developers, telecommunication and energy plays were all lower in early trade. Technology names were mixed. Heavyweight technology giant Tencent lost 0.4 percent this morning.
