APAC markets trade mixed

Markets in Asia were mixed on Monday as traders watched for signals from central bankers’ speeches.

The Nikkei 225 rose 0.41 percent, while South Korea’s benchmark Kospi index reversed earlier losses to trade 0.08 percent higher.

The S&P/ASX 200 declined 0.4 percent.

Greater China markets were mixed. Hong Kong’s Hang Seng Index edged higher by 0.08 percent. The Shanghai Composite traded lower by 0.07 percent and the Shenzhen Composite added 0.073 percent.

Markets in Indonesia were closed for a public holiday.

The markets were keeping an eye on potential developments in central bank rhetoric, with the European Central Bank Forum currently taking place in Portugal and Federal Reserve Chair Janet Yellen due to speak in London on Tuesday.

“Despite the plethora of central bankers on tap, it’s unlikely there will be any revelations on monetary policy forthcoming. And given the proximity to the recent Federal Open Market Committee (meeting), there will certainly be no backpedalling from Dr Yellen,” OANDA Senior trader Stephen Innes said in a Tuesday note.

CNBC

 

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