ASIA equities quiet ahead of Budget Vote

@Lucy_Craymer     @WSJ

Asia-Pacific stocks started trading with little movement Friday, following scant moves overnight in the U.S. and Europe.

Investors continue to watch the latest U.S. budget battle on Capitol Hill, where uncertainly over a possible partial government shutdown this weekend continues. While the House late Thursday passed a one-month spending bill, Democrats say they have the votes to block it in the Senate.

“I’ve gone through several of these possible shutdowns and this is the most nonchalant attitude I have seen the market take,” said Stephen Innes, head of trading in Asia at Oanda.

Most Asian indexes were within 0.1% of Thursday’s closing levels, except for Japan’s Nikkei and Taiwan’s Taiex, which both gained 0.3%. The latter hit fresh 28-year highs, as Taiwan Semiconductor—the index’s biggest company—jumped another 1.6% to another record.

The Nikkei was aided by Nintendo jumping another 4%—it’s up 17% this month and just below nine-year highs.

Fox Business via Dow Jones Wires

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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