Forex Marketz Daily Forex News – Fully Markets Update
Asian stock markets were broadly higher Thursday morning, after falling during the last session. This follows a solid day on Wall Street. Investors are also waiting on a slew of economic data out of China, which includes their gross domestic product release.
The Japanese benchmark, the Nikkei 225 index was up 0.43 percent. Energy related plays, automakers and banking stocks were mixed. Index heavyweight SoftBank Group fell 0.46 percent. Fast Retailing, another heavyweight of the index, was up 1.13 percent. Other retail names saw some declines.
The Nikkei 225 hit a 26 year high this week. It has risen more than three percent so far this year.
The South Korean Kospi composite index, another Asia benchmark, was up 0.22 percent as Samsung Electronics added 0.85 percent. Rival chipmaker SK Hynix surged almost 2.7 percent this morning. Lotte Shopping shed 1.27 percent. Other retail stocks were trading mixed.
Asian Traders Look at Regional Central Banks and the Calendar
In the Asian and Pacific Rim, regional banks are holding their monetary policy meetings.
The Bank of Korea, this morning, held rates steady at 1.5 percent. This was as expected. The South Korean central bank was expected to stand on the sidelines thanks to tighter monetary conditions. These conditions are being driven by strength in the Korean won
Investors, today, are also looking at the economic calendar. It is full. All times in Hong Kong Time:
- 12:30 p.m.: Japanese industrial production
- 3:00 p.m.: Chinese fourth-quarter GDP. Also industrial production and retail sales data
- 5:00 p.m.: Bank Indonesia monetary policy and rate decision
