Asian stocks trade mixed, Nikkei 225 rises on weaker yen

Dhwani Mehta FXStreet

The Asian markets trade mixed, having failed to benefit from the rebound in oil prices and strong close on the Wall Street overnight. A weaker yen across the board, supports the exporters’ stocks and lifts the Japanese stocks higher.

While absence of fresh fundamental drivers and increased cautiousness ahead of the Jackson Hole Symposium, weighs down on other major Asian indices. While ongoing weakness across the metals’ space dents the sentiment around the miners and resource stocks, keeping a lid on the Australian equities.

The Japanese benchmark index, the Nikkei 225 swing +0.05% higher at 16,580. The Australian markets trade modestly flat, with the S&P/ASX 200 now trading +0.05% at 5,556 points.

The Chinese equities also trade lacklustre, with the benchmark Shanghai Composite index muted around 3090; the CSI300 index trades -0.09% lower below 3,350 mark. While Hong Kong markets drop -0.97% to trade around 22,770 levels.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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