Asian shares seem likely to recover some lost ground on Thursday, but a weaker finish in the U.S. overnight and the ongoing rout in iron ore prices could curb sentiment.
Japan’s Nikkei 225 index may inch up at the open as futures in Chicago and Osaka ticked up 0.1 percent to 19,245 and 19,140, respectively – both higher than the index’s previous close of 19,034.
Australian shares are set for a rebound, with a rise in oil prices overnightlikely to put some color back into struggling energy counters. However, the collapse in iron ore prices below $50 a tonne may limit gains for the resource-heavy Nikkei 225 index. Futures notched up 0.4 percent to 5,871, an 11-point premium to the underlying bourse.
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.