Thursday, 29 March 2018
Asian stock indexes mixed; US data in focus
Asian equity indexes were mixed on Thursday, with some locations being able to ignore Wall Street’s weak dynamic on expectations upcoming economic reports will improve sentiment.
In Japan, the Nikkei 225 added 0.50 percent to 21,036. Pharmaceuticals stocks came under pressure following a slump of Takeda Pharmaceutical shares by more than six percent as the company said it was "a preliminary and exploratory stage" over a potential bid for British drugmaker Shire.
Australia’s ASX 200 index ended 0.62 percent lower at 5,862.60, with materials and commodity-related stocks contributing the most to the down move. Financials capped losses.
In South Korea, the Kospi rose 0.71 percent, with technology, banking and manufacturing sectors falling in early trading hours. However, heavyweight Samsung Electronics recovered.
Hong Kong's Hang Seng Index traded up 0.18 percent at 30,076 by the time of this writing tech giant Tencent easing near one and a half percent. AAC Technologies - an key Apple supplier - traded in red.
Apple stocks plunged in the US after Goldman Sachs analysts forecasted lower iPhone sales this month. They also continued to reduce their price target on the stock, now at $159 per share.
In China, the Shanghai composite was up 1.24 percent and the Shenzhen composite followed with a 1.18 percent.
Wall Street’s top three indexes were again down on Wednesday, with the Nasdaq dropping for a second straight session as heavyweights Amazon, Netflix and Apple continued to fall. The Dow ended 9.29 points lower at 23,848.42, while the S&P 500 eased 0.3 percent to 2,605.
<<< Next in Europe >>>
Germany’s unemployment change and rate for March are due at 08:00 GMT. The CPI is next at 12:00 GMT. In the UK, business investment for the fourth quarter 2017, current account and the gross domestic product are up at 08:30 GMT.
<<< Next in the United States >>>
Fed’s favorite inflation measure - the core PCE price index - is scheduled for release at 12:30 GMT. Data will come along with personal spending for February. Michigan University will release consumer expectations and sentiment surveys for March at 14:00 GMT.
<<< Next in Asia >>>
Japan’s jobs/applications ratio for February will be available at 23:30 GMT. Tokyo’s core CPI for March will be out at the same time. Twenty minutes later, market players will count on February’s industrial production, with a 4.2 percent reduction seen.
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