Forex Marketz Daily Forex News – Fully Markets Update
Asian markets were a tad lower Monday morning as investors are watching the ongoing shutdown of the U.S. Government, which is going into its third day with no immediate end in sight as both sides dig in their heels.
Japan’s benchmark, the Nikkei 225 was down 0.18 percent. Car makers were mixed on the day. Toyota lost 0.68 percent, but Mitsubishi Motors was up 1.97 percent. Technology play were also a mixed. Sony was down by 0.04 percent and SoftBank Group was up 0.73 percent.
Shares of Toshiba surged 4.04 percent. Shares moved higher after news that the tech giant was thinking of listing its memory unit. An IPO was a suggestion under consideration if the $18 billion sale of its chip unit to a Bain led consortium failed to be approved by regulators at the end of March.
Elsewhere in the Asian trade hours, in Australia, the S&P ASX 200 reversed gains to trade lower. It is now down 0.16 percent. The heavily-weighted financials sector was off by 0.65 percent. This weighed heavily on the broader index. Shares of Commonwealth Bank tanked this morning, down 1.2 percent, underperforming other bank stocks.
National Australia Bank, another of Australia’s so called “Big Four” banks, is considering spinning out its wealth division for a potential listing. This was reported in the Australian Financial Review. Shares of NAB shares were down 0.5 percent.
Asian Investors watch the U.S. Government Closure
In the States, Asian investors are concerned about the U.S. government shutdown that is poised to continue for a third day. The U.S. Senate failed to come to any understanding on Sunday night.
Prior to the Sunday, there had been some signs of progress. The Republican GOP looks unified over plans to end the Federal budget impasse with a temporary solution. However, Democrats, want an immigration agreement before they support any budget deal.
