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Jakarta (Benchmark News) – Asian Stock Exchanges Still Moving Positively. The decision of The U.S. Federal Reserve is holding interest rates of reference remained in the range of 0.25-05 percent still support the strengthening of the Asian stock exchanges on trade this weekend.
Although trading on Friday (23/9/2016) yesterday, Japan exchanges weakened because of the strengthening yen. Nikkei down 0.4 percent and the Topix index slipped 0.7 per cent in early trade, as quoted
The yen was trading at 100.84 against the dollar in Asian morning trade, compared with levels above 102 before The Fed policy announcement. In trading Thursday, the Nikkei Index ended rose almost 2 percent to plan changes in monetary policy from the Bank of Japan (of the BoJ).
Japan’s main export shares fell, with shares of Toyota dropped 2.91 percent, Nissan off 1.03 percent and Honda lower 3.08 percent. Shares of Sony against the general trend weakened and unable to rise 1 percent. The strengthening yen tend to overload the income exporters because it reduces the value of overseas earnings when they are translated back into their home currency.
Other Asian markets were mostly higher. Australia’s benchmark ASX 200 rose 0.2 percent, with the financial sector very weighted get 0.67 percent, but the gold sector dropped 2 percent. In South Korea, the Kospi climbed 0.14 per cent.
“After a week of exchanges is full of risk, on Friday brought to market a breather, with the positive trend of significant data,” said Tapas Strickland, an economist with the National Australia Bank (NAB).
Oil prices strengthened overnight, with US crude oil rise 2.2 percent at US $ 46,32 per barrel. While the global benchmark Brent climbed type 1.8 per cent to US $ 47,65. (Red)
