Posts Tagged: NIKKEI

Asian Stock markets opened higher today. NIKKEI started the day at 10,096.89, previous close was 10,010.39. HANG SENG opened at 22,251.02, previous close was 21,987.29.

The markets have reacted positively after European Union leaders reached a new deal for Greece and other debt plagued eurozone countries. Another factor supporting the stock markets is strong Morgan Stanley results. As fear of contagion from Greece will engulf Spain and Italy fades away, investors are still cautious. Yesterday, S&P rating services reminded that the United States may lose its AAA credit rating if the U.S. lawmakers fail to raise the country’s debt limit before the deadline. Even though investors bet the U.S. will maintain its debt payments and keep its credit rating, the Japanese yen’s strength against the dollar is something that they can not ignore.

Asian session is going flat and calm today. EUR rallied to a two week high against USD yesterday after EU leaders agreed on Read more »

Asian Stock markets opened slightly higher today. NIKKEI started the day at 10,019.94, previous close was 10,005.90. HANG SENG opened at 22,054.42, previous close was 22,003.69. Strong gains made the day before on hopes that the EU leaders will come up with some solution, which doesn’t involve postponing, to solve the fiscal crisis. However, it seems that upside is limited as investors are still concerned about the U.S. debt limit. Deputy General Manager at Cosmo Securities, Mitsuo Shimizu said “Most investors are stuck to the sidelines today ahead of the EU summit and as nothing has been decided yet on the U.S. debt ceiling issue”. Even though President Obama backed a deficit reduction plan released by a bipartisan group of senators yesterday, there are still plenty of uncertainties over the U.S. debt ceiling talks. In addition, the U.S. lawmakers have less than 2 weeks to raise the country’s debt ceiling.

Asian session started the day with USD weakening Read more »

Asian Stock markets opened higher today. NIKKEI started the day at 10,008.00, previous close was 9,889.72. HANG SENG opened at 22,077.55, previous close was 21,902.40. Asian stocks are climbing on optimism that U.S. lawmakers will reach an agreement before the deadline. Another factor fueling investors’ expectation is strong U.S. corporate earnings. Fund manager at Shinkin Asset Management, Naoki Fujiwara said “The market may stay strong throughout the day on hopes that U.S. earnings will continue to cheer investors. If Intel Corp’s results later in the day are good, tech shares may continue climbing”. It seems that further gains will depend on Japanese corporate earnings due out next week.

Asian session is going flat today. We see some USD strength against other major currencies except JPY. Gold fell below $1,600 level after President Barack Obama backed a deficit reduction plan released by a bipartisan group of senators. The proposal, which seems to include constructive ideas to deal with the Read more »

Asian Stock markets are sliding slowly today. NIKKEI started the day at 9,921.50, previous close was 9,974.47. HANG SENG opened at 21,767.80, previous close was 21,804.75. Drop in U.S. stocks, concerns over European sovereign debt and the lack of progress in U.S. debt ceiling negotiations are the most important factors that are making the markets nervous. Senior strategist at Daiwa Asset Management, Yoshinori Nagano said “In the U.S., as well as concern about the economy, with the debt talks stalling the outlook for the country is still unclear. We are unable to see the end of the sovereign debt crisis in Europe, and fears are refusing to abate. The results of what is happening in Europe are beating down bank stocks here”.

Europe’s debt problem is getting very serious and President Obama is running out of time. U.S. dollar has been under pressure amid growing concern U.S. lawmakers will fail to reach a deal on the country’s debt Read more »

Asian Stock markets opened slightly lower today. NIKKEI started the day at 9,919.59, previous close was 9,936.12. HANG SENG opened at 21,874.43, previous close was 21,940.20. The stock markets are still under pressure due to ongoing concerns over eurozone fiscal problems and U.S. debt woes. Despite the fact that the outlook of global economy is a bit gloomy, analysts say that the majority of Tokyo shares are still trading at or below their book value. Currency strategist at Tachibana Securities, Kenichi Hirano said “While there are many external factors that are dampening the mood, Japanese stocks are attracting foreign buying with their cheap valuations”. Analysts say that trading may be sluggish ahead of U.S. economic indicators such as the consumer price index, industrial production and a stress test of European banks due later today. Investors are also focusing on corporate earnings. Citigroup is going to release its quarterly results today.

U.S. debt ceiling discussions and rating services’ latest Read more »

Asian Stock markets opened lower today. NIKKEI started the day at 9,929.18, previous close was 9,963.14. HANG SENG opened at 21,900.62, previous close was 21,926.88. Today we see the impacts of Moody’s statement and FED Chairman Ben Bernanke’s speech yesterday. Investors are reducing their positions as concerns about U.S. debt ceiling problems and eurozone debt worries increase. Fund manager at IG Investment, Tim Leung said “There’s uncertainty and confusion about whether we are going to see executives and legislators settle on the debt limit and the Moody’s review suggests that there may be a problem if they cannot reach a deal. There is a definite timeline for the U.S. debt ceiling discussion and also with financing the maturing papers from Italy, so both are risks in people’s mind”.

Asian session started the day with USD weakness. CHF, JPY and gold are making new highs. As the current situation is making investors more cautious, we see that the demand Read more »

Asian Stock markets are almost flat and further sell off seems stopped for now. NIKKEI started the day at 9,891.11, previous close was 9,925.92. HANG SENG opened at 21,800.33, previous close was 21,663.16. For this week, we may see the impact of the yen’s renewed strength and worries about eurozone debt crisis. $/¥ was down to 78.45 today. Senior technical analyst at Mizuho Securities, Yutaka Miura said “People are now used to seeing the dollar dipping below 80 yen, but the question is whether this strong yen trend is temporary or is it one that will last for a while. If it lasts for a week, the Nikkei may fall towards 9,500”. According to the latest report released by Chinese National Bureau of Statistics, China’s gross domestic product expanded at a rate of 9.5% in the April-June quarter and June industrial production improved 15.1%.

Today we see EUR, GBP and AUD trying to recover against USD. Yesterday Moody’s Read more »

Asian Stock markets are sliding on concerns over the eurozone debt crisis may spread to Spain and Italy. NIKKEI started the day at 9,943.32, previous close was 10,069.53. HANG SENG opened at 21,973.98, previous close was 22,347.23. Fund manager at Chibagin Asset Management, Hiroaki Osakabe said “Financial stocks had been gradually rising ahead of earnings reports by their Wall Street peers and that’s why problems in the EU are hurting them a bit more then they would have normally”.

Fear of contagion is not the only reason making investors anxious. Also the current situation of the U.S. economy is frightening investors, especially stalled negotiations over the U.S. debt ceiling. In fact the U.S. hit the debt ceiling on May 16 but since then has used spending and accounting adjustments to continue operating without impact on government obligations. President Barack Obama said “I am prepared to take on significant heat from my party to get something done and I Read more »

Asian Stock markets opened lower today as the U.S. jobs data soured investor sentiment. The Nikkei average also weakened by profit taking on gains made last weeks. NIKKEI started the day at 10,069.01, previous close was 10,137.73. HANG SENG opened at 22,542.91, previous close was 22,726.43. Investors had high expectations for the U.S. employment data, but they were disappointed as U.S. unemployment unexpectedly increased. Now investors’ focus turns to Japanese and U.S. corporate earnings. Trading volume today is low in the Nikkei ahead of U.S. earnings reports. Currency strategist at Mizuho Asset Management, Takashi Aoki said “The argument has been that, although the job market is weak, earnings have been good, so it will be a shock if we get negative news in the earnings department, as well”. It seems that investors are cautious and they want to see outcome of earning reports this week before they decide on their next step.

Even though the latest report showed Read more »

After better than expected U.S. data, Asian Stock markets open higher today. NIKKEI started the day at 10,205.71, previous close was 10,071.14. HANG SENG opened at 22,784.50, previous close was 22,530.18. The Nikkei index traded at four month high today on hopes that the recent slowdown in economy is temporary. Fund manager at Chibagin Asset Management, Hiroaki Osakabe said “The Nikkei’s comeback is quite remarkable and faster than I had expected. Macroeconomic data from the U.S., which was really poor in mid- and late June has recovered quickly and that’s helping the Nikkei”. Investors think that if the U.S. jobs figures, which will be released today, don’t disappoint then the Nikkei may rally higher. Japan Ministry of Finance released its Current Account report today. According to the report, Japan’s current account surplus narrowed less than economists forecast in May. Japan’s current account surplus fell 51.7%. Data also showed that Japan’s exports fell in May and the trade balance Read more »