Many investors chose to sit on the sidelines Monday following a mixed and largely uninspiring close on Wall Street Friday and amid a general lack of fresh leads. The market tone was cautious before a series of key events later in the week including the Bank of Japan's policy board meeting and the Federal Open Market Committee meeting, both of which could see the announcement of new easing measures.
There are plenty of data and events th
is week including central banks in the U.S., Japan and New Zealand that will capture attention, Political events in France and bond auctions in the euro zone will also provide direction. We continue to see risk aversion creeping higher against this background, which in turn will keep risk assets on the backfoot,A string of top tier risk events in the U.S. (paves) the way for a potentially critical shift in greenback demand with stimulus expectations a primary directive," Christopher Gore,
Japan's Nikkei Stock Average advanced 0.3%, Australia's S&P/ASX 200 slid 0.3%, South Korea's Kospi Composite slipped 0.3% and New Zealand's NZX-50 was flat.
Energy plays were mixed despite Friday's rise in Nymex crude. In Seoul, S-Oil fell 1.0% and SK Innovation rose 0.6%, while Santos dropped 2.2% in Sydney and Inpex was flat in Tokyo.
Declines in heavyweight auto and shipbuilder stocks weighed on the Seoul market following their recent gains, while technology stocks provided some support. Hyundai Heavy Industries fell 1.1% and Kia Motors slid 1.0%, while SK Hynix rose 0.9% and LG Display added 1.7%.
Canon rose 1.1% in Tokyo on a Nikkei report that the company's operating profit for the full year ending December 31 is projected to grow 20% on-year to almost Y460 billion
Japan's Yakult Honsha climbed 12.4% after a report that France's Danone is negotiating with Yakult to increase its stake to 28% from 20% currently.
In foreign exchange markets the euro was lower against the U.S. dollar as political uncertainty weighed on sentiment towards the single currency after key talks over measures to cut the Dutch government's budget deficit broke down over the weekend, while French President Nicolas Sarkozy found himself in a fight for his political survival Sunday, after finishing slightly behind Socialist candidate Francois Hollande in the first round of France's presidential election.
However, the euro remained supported against the greenback as investors were hesitant to place bets before this week's highly-anticipated FOMC meeting.
The single currency was at $1.3191 against the dollar, from $1.3215 late Friday in New York, and at Y107.40 against the yen, from Y107.83. The dollar was at Y81.40, from Y81.53.
Spot gold was at $1,641.30 per troy ounce, down $1.10 from its New York settlement on Friday. June Nymex crude oil futures were 13 cents lower at $103.75 per barrel on Globex.
For the latest updates on the stock market, PRESS CTR + D or visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
No comments:
Post a Comment