Asian equities finished higher as investors increase bets of rate cut in July after Jerome Powell’s testimony yesterday. The Hang Seng finished 0.25 percent higher at 28,504, the Shanghai composite ended 0.51 percent higher to 2,937 and the Singapore Straits Times index finished 0.15 percent higher to 3,355. Aussie stocks ended 0.3 percent lower at 6,695. In Japan the main benchmark, Nikkei 225 finished 0.20 percent higher at 21,685, as the Japan Industrial Production (month over month) came in at 2% missing forecasts of 2.3% in May. Nikkei positive momentum is intact and trades close to two month high on improved sentiment and as the Wall Street indices registered yesterday another record close.
In Asian forex markets USDJPY trading 0.06 percent higher at 108.35, the Aussie dollar continues higher against greenback at 0.7001 while Kiwi also trades higher at 0.6686 versus USD. Gold retreats from the two day rally at 1,409 area while crude oil is 0.30 percent higher at $60.61 per barrel.Don’t miss a beat! Follow us on Twitter.
Download our Q3 market outlook today for our longer-term outlook for the markets and trade ideas.
Do you enjoy reading our updates? Become a member today and access all restricted content. It is free to join.