Forex Marketz Daily Forex News – Fully Markets Update
Asian markets were drifting this morning, albeit higher. The historic summit between the United States and North Korea is now in progress. President Donald Trump and North Korean leader Kim Jong Un are in Singapore. Also on investor minds in the Asian and Pacific Rim are upcoming central bank meetings scheduled for this week.
The Asian benchmark in Japan, the Nikkei 225 was up 0.58 percent. This is off the morning session high as the Japanese currency moved off its intraday low.
Other regional stock markets were fairly flat.
In South Korea, the Kospi composite index was up 0.25 percent. It had been gyrating around the zero line most of the day. In Australia, the S&P ASX 200 tacked was up 0.24 percent.
In the Chinese region, the Hong Kong Hang Seng Index (HIS) was up 0.16 percent. Energy and service sectors were both trading higher today. On mainland China, the Shanghai composite was also up. This bourse rose 0.15 percent.
Asian Traders watch the Trump – Kim Summit in Singapore
U.S. President Donald Trump and North Korean leader Kim Jong Un are in Singapore for a historic summit between old foes. This is the first meeting between current leaders of both countries. Markets are not expecting a major breakthrough. This meeting should have very little direct impact on the markets.
Trump and Kim will focus on the future and bilateral ties. No big breakthroughs are expected from today’s summit.
There are several large central bank meetings this week. Today the Fed begins its two policy meeting. Analysts are looking for a quarter point rate hike on Wednesday. Also on this week’s schedule, the European Central Bank and Bank of Japan will hold their monetary policy meetings.
