Asian Markets Continue to Trade Lower, Gold Hovers Around $1280

Asian Markets Continue to Trade Lower, Gold Hovers Around $1280

5 May 2016, 06:43
Roberto Jacobs
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Asian Markets Continue to Trade Lower, Gold Hovers Around $1280

Major Asian indices are trading on a lower note on Thursday after US reported lower than expected ADP job data. US ADP employment change fell to 156,000 m/m vs 194,000 jobs m/m previous release.

Gold remains well supported above $1270 and currently hovers around $1280 marks again.

On the other side, Japanese Yen erases previous gain against US dollar and remains supported just above 107.00 marks. Japanese banks will be closed in observance of Children's Day.

Hong Kong's benchmark Hang Seng index was trading 0.48% lower at 20,429.00 points on Thursday morning in Asia, while mainland China's Shanghai Composite index fell 0.19% to 2,985.45 points.

South Korea's Kospi index dropped 0.49% to 1,976.71 points.

Australia's S&P/ASX 200 index was trading 0.12% lower at 5,263 points.

New Zealand’s S&P/NZX 50 index was trading 0.49% higher at 6,858.06 in Wellington.


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