Asia Markets Trade Mixed


Most Asia-Pacific stock markets chalked up modest gains early Friday, following fresh records on major U.S. indexes, stemming two days of declines in the region.

“Generally we are going to be tracking the upbeat wave of sentiment” from Wall Street, said Stephen Innes, head of trading in APAC at Oanda. Still, he’s not expecting a sizable rebound in Asia ahead of the weekend.

Continued gains in the yen further pressured Japanese stocks—the Nikkei was recently down another 0.2% as the dollar was around ¥111.25, compared with ¥111.80 when local stock trading ended Thursday.

Some investors have been reversing bets that the yen’s value would fall as the Federal Reserve continues to tighten monetary policy and the Bank of Japan and the Bank of Japan is seen as being some time off increasing its rates

The Wall Street Journal

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Stephen Innes

Stephen Innes

Head of Trading APAC at OANDA
Stephen has over 25 years of experience in the financial markets and currently based in Singapore as the Head of Trading Asia Pacific with OANDA. Stephen's market views focus on the movement of G-10 and ASEAN Currencies. His views appear in Bloomberg, CNBC.Reuters, New York Times WSJ and the Economist. His media appearances include Bloomberg TV & Radio, BBC International, Sky TV, Channel News Asia, ASTRO AWANI and BFM Malaysia. Stephen has an extensive trading experience in Spot and Forward FX, Currency and Interest Rate Futures, Money Market Derivatives and Precious Metals. Before joining OANDA, he worked with organisations like Nat West, Chemical Bank, Garvin Guy Butler, and Sumitomo Mitsui Banking Corporation. Stephen was born in Glasgow, Scotland, and holds a Degree in Economics from the University of Western Ontario.
Stephen Innes