Share

Asian investors take a breather

Hong Kong - Asian stock markets were mixed on Thursday as investors took a breather after the previous day's rally, taking their lead from a retreat on Wall Street.

The euro continued to face pressure from the dollar and the yen ahead of next week's European Central Bank board meeting that many expect will see an easing of monetary policy.

Tokyo was flat at the end of the morning session after enjoying a five-session winning streak and Sydney dipped 0.15%, while Hong Kong added 0.27% and Shanghai gained 0.25%. Seoul was flat.

Jakarta was closed for a public holiday.

With key US economic data due to be released later in the day, including the second estimate of first-quarter gross domestic product, dealers were keeping to the sidelines after enjoying a healthy pick-up on Wednesday.

On Wall Street the three main indexes ended lower ahead of the indicators. The Dow dipped 0.25%, the S&P 500 eased 0.11%, snapping a two-day streak of record closes, and the Nasdaq fell 0.28%.

Investors are also waiting for the release Monday of HSBC's closely watched purchasing managers index (PMI) of manufacturing activity from China, the United States and Europe, hoping for signs of further improvement.

China is also due to unveil its own official PMI on Sunday.

On foreign exchange markets the euro fell to ¥138.29 from ¥138.40 late in New York and ¥138.96 in Tokyo earlier Wednesday, with expectations high that the ECB will announce new measures to combat tepid price rises.

The bank's chief Mario Draghi this month hinted at possible new policy moves as it struggles to prevent deflation in the eurozone.

The single European single currency also fetched of $1.3595, against $1.3590 in US trade - which was a 15-week low - while the dollar eased to ¥101.71 from ¥101.84.

In oil trade the US benchmark, West Texas Intermediate for delivery in July, climbed 23 cents to $102.95 a barrel, while Brent North Sea crude for July gained 10 cents to $109.91.

Gold fetched $1 256.33 an ounce at 04:15 compared with $1 265.08 late on Wednesday.


We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
19.29
-0.7%
Rand - Pound
23.87
-1.1%
Rand - Euro
20.58
-1.2%
Rand - Aus dollar
12.38
-1.1%
Rand - Yen
0.12
-1.2%
Platinum
943.50
+0.0%
Palladium
1,034.50
-0.1%
Gold
2,391.84
+0.0%
Silver
28.68
+0.0%
Brent Crude
87.29
+0.2%
Top 40
67,314
+0.2%
All Share
73,364
+0.1%
Resource 10
63,285
-0.0%
Industrial 25
98,701
+0.3%
Financial 15
15,499
+0.1%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders