Nikkei down Over 1 Pct While China Close on the Dragon Boat Festival, Gold steady Above $1260

Nikkei down Over 1 Pct While China Close on the Dragon Boat Festival, Gold steady Above $1260

Major Asian indices are trading on a lower note on Thursday. Today BOK unexpectedly cuts the interest rate by 25bp to 1.25 % vs 1.50% previous release on the other side, RBNZ kept the benchmark interest rate on hold at 2.25%.

Gold remains well supported above $1260 and hit the high at $1266 marks in early hours. In addition, Yen strengthens against US dollar and trading around 106.62 marks.

Chinese markets will remain close for two days in observance of the Dragon Boat Festival.

Japan’s Nikkei N225 was trading 1.37% lower at 16,600.53 points in Tokyo. South Korea’s Kospi was trading 0.34% lower at 2,020.17 points.

Australia’s S&P/ASX 200 was trading 0.52% lower at 5,341.80 points.

India’s BSE Sensex was trading 0.23% lower at 26,957.99 and NSE Nifty was down by 0.55% to 8,225.10 points.

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