Asia markets mostly up; Nikkei edges up despite yen’s climb – CNBC
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Most Asian markets rose on Thursday, with Japan’s benchmark index snapping a seven-day losing streak despite fresh strength in the yen.
Japan’s Nikkei 225 closed up 34.48 points, or 0.22 percent, at 15,749.84, after wavering between positive and negative territory throughout the session as the yen climbed.
Mainland Chinese markets lost ground, with the Shanghai composite closing down 41.08 points, or 1.35 percent, at 3,009.51, while the Shenzhen composite was off by 31.44 points, or 1.6 percent, at 1,930.26. Hong Kong’s Hang Seng index ended up 59.38 points, or 0.29 percent, at 20,266.05.
The subdued performance in Asia was in contrast to solid gains in U.S. equities overnight in the wake of the release of the most recent Fed meeting minutes, which set a relatively dovish tone.
“The release of the Fed minutes overnight largely confirmed that there will not be a rate rise in April, and there’s little in the statement or recent U.S. data that pushes strongly for a rate rise in June either,” Angus Nicholson, market analyst at spreadbettor IG, said in a note Thursday.
“Initially, this news was greeted positively early in Asian trade, but the region’s concern soon returned to the impressive resurgence in the strength of the yen.”
Asia markets mostly up; Nikkei edges up despite yen’s climb – CNBC}