(MENAFN– ecpulse)
Japanese equities managed to end today`s trading clearly high compared to the Asian stocks, as markets await Prime Minister Shinzo Abe`s announcement of a new government tomorrow weakening the Japanese yen, while both Hyundai and Samsung equities drop had a negative impact in preventing the rest of the Asian stocks from achieving gains.
- Japanese Nikkei 225 ended 1.24% higher at 192.00 pips and is trading around 15668.00.
Prime Minister Shinzo Abe announced on Tuesday during a meeting of the ruling Liberal Democratic Party that he would reshuffle his cabinet on September 3, for the first time since it was formed at the end of 2012, at a time when his country enters the second chapter of the economic recovery represented in the national security and local economies.
- Australia’s S&P/ASX 200 ended 0.51% higher at 28.68 pips and is trading around 5658.51, after the Reserve Bank of Australia today fixed interest rates at 2.5% according to expectations and last month data, while today`s remarks of the Reserve Bank Chairman Stevens stated that the Australian currency is valued higher than its fair value.
Trading volumes returned to normal levels after the United States returned from Labor day celebrations, but market focus will remain on the Ukrainian crisis with the start of peace talks between the Ukrainian governement and the separatists loyal to Russia who have stated that they are ready to stay as part of Ukraine if granted special conditions.
Korean stocks
- Kospi closed 0.79% lower at 16.28 pips and is trading around 2051.58 affected by the drop of both Hyundai and Samsung.
- Hyundai Motor Co dropped 2.8% closing at 255.50 KRW after the largest company in South Korea announced its sales decline last August.
- Samsung Electronics Co (the world largest smart phones maker) dropped 2.61% to its lowest level in two years at 1194.00 KRW.
Chinese indices
- Chinese CSI 300 ended 1.32% higher at 31.14 pips and is trading around 2386.46.
- Shanghai Composite ended in green achieving 1.37% gains at 30.54 pips and is trading around 2266.05.
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