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August 3, 2021

Asian markets ended Friday session on lower territories, following the weak cues overnight from Wall Street.

Asian market

Asian markets ended Friday session on lower territories, following the weak cues overnight from Wall Street after a report that U.S. President Donald Trump intends to move ahead with plans to impose tariffs on $200 billion in Chinese imports.

Meanwhile, In U.S.news President Donald Trump has also threatened to pull the U.S. out of the World Trade Organization if the international trading group does not “shape up.” Also, the sell-off in emerging market currencies also dampened investor sentiment.

The Shanghai Composite index fell by 0.46 percent to end the session at 2,725.24. The Greater China markets were down as Hong Kong’s; Hang Seng index fell by 0.98 percent to end the session at 27,888.22.

On the other hand, In South Korea, the Kospi index closed the session in the green, rose by 0.67 percent to end the session at 2,322.88, supported by Samsung Electronics gained 1.68 percent.

Japanese Stock Market:

Japan’s equities were trading lower today as Nikkei225 fell by 0.06 percent to end the session lower at 22,856.00.

In stocks news, Yamaha Corp. and Furukawa Co. are lower by more than three percent each, while Dowa Holdings and Unitika are declining almost three percent each. Among the major exporters, Panasonic fell more than one percent, Mitsubishi Electric is losing 0.7 percent, and Canon is down by 0.3 percent. On the other hand, Sony is adding 0.2 percent.

In economic news, the Ministry of Economy, Trade, and Industry said Today preliminary reading that industrial production in Japan dipped a seasonally adjusted 0.1 percent in July. That missed forecast for a gain of 0.2 percent following the 1.8 percent loss in June.

 

The unemployment rate in Japan came in at a seasonally adjusted 2.5 percent in July, beating expectations for 2.4 percent, which would have been unchanged from the June reading.

In the Forex market, the Greenback tumbled against the Japanese Yen to trade at 110.781 USDJPY at 11:00 GMT.

 

Australian Stock Market:

The benchmark S&P/ASX200 Index down by 0.51 percent to close the session at 6,319.50. Following the negative cues from Wall Street. Weak on gold prices also weighed on mining stocks.

In the mining space, BHP Billiton and Rio Tinto are losing more than one percent each, while Fortescue Metals rose by  0.4 percent after a more than two percent fall in iron ore prices.

In the banking sector, Westpac, Commonwealth, National Australia Bank and ANZ Banking are higher in a range of 0.1 percent to 0.6 percent.

In the currency market, the Aussie dropped against the US Dollar to trade at 0.7229 AUDUSD at 11:00 GMT.

Ali Hwary

Ali Hwary

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