Asian Stocks Trade Mixed on Fed Minutes, Weaker Commodities
The stocks on the Asian bourses fluctuate between gains and losses amid
underlying mixed tone in the markets, as the Asian traders digest the
latest FOMC minutes, which revealed that the US interest rate hike is
back on the cards this June.
The Chinese equities appear to outperform their Asian counterparts, despite weaker China’s business sentiment data and lower oil prices. While the Japanese stocks erase gains and turn in the red zone as the yen’s relative strength weigh on the exporters’ stocks.
Australia’s ASX 200 – main laggard
Meanwhile, the Japanese benchmark index, the Nikkei 225 trades -0.05% at 16,636 points, amid ongoing correction in USD/JPY near 110 handle. Australia’s ASX 200 index drops –0.74% to 5,315 points, on the back of poor Australian jobs data and weaker commodities’ prices, especially gold and oil prices.
While the Chinese equities emerge the winner, with the benchmark Shanghai Composite index rebounding +0.56% to 2,820, the CSI300 index bounces +0.24%%, while Hong Kong’s Hang Seng drops -0.49% to 19,725 levels.