Asia markets set to open mixed – CNBC
7 months ago Comments Off on Asia markets set to open mixed – CNBC
“The [Japanese yen] is hammering the Nikkei,” said Evan Lucas, market strategist at spreadbetter IG, in a morning note. “All that work from Kuroda and co have gone in the blink of an eye.”
“The question is how much will the [yen] hurt the economic turnaround Abe has been pushing for over the past four years? If the Nikkei and the trade balance are any gauges, both are showing signs of strain already,” Lucas added.
Meanwhile, the Australian dollar weakened against the U.S. dollar Monday morning, with the pair trading down 0.14 percent at 0.7588. Last Thursday, the Aussie reached the $0.76 level against the greenback, before retreating.
Ray Attrill, global co-head of FX strategy at the National Australia Bank, said in a note that the Australian market would be “on guard for some renewed jawboning on the currency. Lack thereof will likely be a catalyst for new post July 2015 highs” in the currency market.
Major Australian miners traded mixed, with shares of Rio Tinto up 0.2 percent and BHP Billiton lower by 0.55 percent, while the country’s so-called Big Four banks – ANZ, Commonwealth Bank of Australia, Westpac and NAB – were down between 0.28 and 1.04 percent.
Asia markets set to open mixed – CNBC}