Wednesday, 4 October 2017
Mixed trading in Asia continues as China, Taiwan and South Korea on holidays
Asian stock markets were mixed on Wednesday, with China, Taiwan and South Korean remaining closed for holidays and as no relevant data was released in the session.
Japan was the main focus for investors as the Nikkei 225 was affected by some volatility from the retail sector. Fast retailer Uniqlo reported a 6.3 percent year over year sales jump in September. However, the sector was not able to hold gains and gave them up almost entirely.
Equities in the Asia region were unable to find a clear direction despite a strong lead from Wall Street. Overnight, US stocks were boosted by automakers new vehicle sales in September.
The Dow Jones Industrial Average edged up to 22641.67. The S&P 500 added 0.22 percent and the Nasdaq Composite ended 0.23 percent at 6531.71.
Australia ASX -44.60 -0.77% 5,719.60 CLOSED
Shanghai Comp +9.30 +0.28% 3,348.94 CLOSED
Hang Seng Index +182.85 +0.65% 28,356.06 OPEN
Nikkei 225 +12.59 +0.06% 20,626.66 CLOSED
TSEC 50 Index +4.19 +0.04% 10,469.35 CLOSED
Ahead in the day, traders will be paying attention a series of key economic reports in Europe and the United States.
Germany’s services PMI index for September is due at 07:55 GMT, followed by the same report in the Eurozone at 08:00 GMT. Retail sales for August are up at 09:00 GMT.
ADP US nonfarm employment change for September is due at 12:15 GMT. The Institute for Supply Management will present its non manufacturing PMI index for September at 14:00 GMT.
Traders will also be paying close attention to speeches from central bankers, including the European Central Bank President Mario Draghi at 17:15 GMT and Federal Reserve Chairwoman Janet Yellen at 19:15 GMT.
Yellen will be speaking at the Community Banking in the 21st Century Conference and attention will be directed entirely to her rhetoric in search for more “hawkish” support.
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