Mixed Day for Asian Shares

Shares were meandering in sluggish trading in Asia on Thursday as investors awaited the inauguration of Donald Trump as president. Japan’s benchmark rose after the dollar slipped against the yen.

KEEPING SCORE: Japan’s Nikkei 225 gained 0.7 percent to 19,027.09 and Australia’s S&P ASX 200 added 0.2 percent to 5,692.70. The Hang Seng in Hong Kong slipped 0.5 percent to 22,986.08 and South Korea’s Kospi was flat at 2,070.33. The Shanghai Composite index edged 0.1 percent lower to 3,110.49. Shares in Southeast Asia were mixed.

THE QUOTE: “While the inauguration is dominating headlines, simmering on the back burner is the overriding theme of U.S. protectionism, expressly directed at China. With so many prominent trade hawks joining the Trump administration, it all points to a massive shift in U.S. trade policy. That does not paint a rosy picture for regional … exporters, nor countries like Australia, which play such a vital role in the global supply chain,” said Stephen Innes, a senior trader at OANDA.

The New York Times

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Stephen Innes

Stephen Innes

Senior Currency Trader and Analyst at OANDA
Stephen has over 25 years of experience in the financial markets and specializes in Asian currencies at OANDA. After having started his trading career with NatWest Bank, he is currently based in Singapore as a Senior Currency Trader and Analyst with OANDA, focusing on the movement of the Aussie Dollar and ASEAN Currencies. Stephen has an extensive trading experience in Interest Rate Futures, Money Markets and Precious Metals. Prior to joining OANDA, he worked with organizations like Cambridge Mercantile, Nat West, Garvin Guy Butler, Sumitomo Mitsui Banking Corporation. Stephen was born in Glasgow, Scotland, and holds a Degree in Economics from the University of Western Ontario.
Stephen Innes