Asian stocks trade mixed as Yen weakness supports Nikkei

Omkar Godbole FXStreet Contributor

Stock markets across Asia trade mixed as stimulus hopes in Japan, Australia and New Zealand support their indices, while others like Hong Kong’s Hang Seng trade in losses.

At the time of writing, Japan’s Nikkei index was up 0.23%. Stocks rallied as Yen weakened by 0.32% against the US dollar after Bloomberg survey showed 75% economists expect BOJ to expand its stimulus program on Friday. Meanwhile, Australia’s S&P/ASX 200 added 0.56% on speculation of RBA rate cut in August. On similar lines, DJ New Zealand added 0.69%.

Hong Kong’s Hang Seng retreated 0.23%, while stocks in Taiwan and South Korea were down 0.70% and 0.10% respectively.

Stocks in Asia took cues from record high closing in US S&P 500 index on Friday. However, concerns that Fed may hint at a rate hike on Wednesday is capping gains in the indices in Asia.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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