Forex Marketz Daily Forex News – Fully Markets Update
Markets in Asia and the Pacific Rim were rather mixed this morning after a quiet lead in from North America. Wall Street was closed due to the Thanksgiving Day holiday and will open today till 1 pm EST. Investors in Asia kept a close eye on the Chinese markets as they tried to bounce back after the shellacking during yesterday’s trade session in Asia.
Japan’s benchmark bourse, the Nikkei 225 fell by 0.47 percent. Markets reopened for trade after a day off thanks to a public holiday. Losses were in trading houses, banks, manufacturing and retail plays. Technology shares were a rather mixed picture. Nintendo gained 1.98 percent, the SoftBank Group rose by 0.46 percent and Sharp Electronics fell nearly 0.98 percent.
Across the Korean Strait, the Kospi Composite index rose about 0.03 percent. Technology heavyweight Samsung Electronics declined by 0.07 percent. Brokerage plays and financials were a tad lower.
In Australia, the S&P ASX 200 lost 0.24 percent. Most sub-indices were around the flat line Industrials and information technology sub-indices, lost 0.62 percent and 0.82 percent respectively.
Chinese Bourses in Asia try to Recover
Chinese markets were being closely watched by investors after they recorded sharp losses on Thursday.
Hong Kong’s Hang Seng Index inched higher this morning. This exchanged climbed 0.39 percent after shedding one percent yesterday. However, the Hang Seng remained below the 30,000 mark which it broke through for the first time in a decade this week.
The Shanghai Composite was down by 0.17 percent and the Shenzhen Composite lost 0.04 percent. The blue chip CSI 300 index, which had seen its largest one day loss, Thursday, since June 2016, was down 0.29 percent.
Beijing implemented a mix of tighter lending rules. These include firmer bond prices as reasons for the sharp losses on Thursday.
Investors said shares that sold off had risen in the past weeks. They continue to have relatively good fundamentals despite yesterday’s drubbing.
