Asian Stock Markets Couldn’t Replicate US Lead

Asian shares were lacklustre in early trade on Friday, despite US stocks closing higher on strong retail sales data.

Japan’s Nikkei 225 closed up just 0.12% at 20,407.08.

But on Thursday, the benchmark index marked its biggest percentage gain in four months.

“It’s interesting to see that US retail sales are up,” economist Tony Nash told the BBC, “as we’ve seen Asian exports down for the past several months.”

“The real question for Asia is whether the US up-tick is a trend and if that will flow upstream to exports in Asia any time soon,” said Mr Nash, managing partner of Complete Intelligence.

In Australia, the S&P/ASX 200 closed down 0.21% at 5,545.30, while South Korea’s benchmark Kospi index closed down 0.22% at 2,052.17.

South Korean shares ended a four-day losing streak on Thursday after the country’s central bank cut interest rates to a record low, citing a deadly outbreak of Mers as a concern for the economy.

via BBC

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza