Asian Stocks Mixed Ahead of Fed and Low Oil Prices

Japan’s stocks rose on Friday following an upbeat session in US, ending three consecutive days of losses.
The benchmark Nikkei 225 closed up 1% at 19,230.48 despite oil prices continuing to sit near seven-year lows.

A weaker yen, which helps the country’s big exporters, helped to boost investor confidence.
In Australia, investors continued to worry about commodity-related shares. Sydney’s S&P/ASX 200 index closed down 0.16% at 5,029.50.

Mining giant BHP Billiton ended the day 1.6% lower in Sydney trade, while shares in iron ore miner BC Iron plunged 23.7%.

BC Iron said on Friday it would suspend operations at a key mine in Western Australia, as falling iron ore prices continued to hurt the firm.

“Due to the ongoing and material fall in iron ore price, the decision has been made to temporarily suspend the production of direct shipping ore at the Nullagine joint venture operation,” the firm said in a statement.

The operation is a joint venture between BC Iron and Fortescue Metals.
Elsewhere in Asia, China’s Shanghai Composite index ended down 0.6% at 3,434.58, while Hong Kong’s Hang Seng index dropped 1.1% to 21,464.05.

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