Asian Stocks Mixed, Ahead of Jerome Powell Testimony

Asian stocks finished mixed for one more day as investors attention turns to Jerome Powell speech later today looking for fresh cues on next monetary policy move.  The Hang Seng finished 0.27 percent higher at 28,188, the Shanghai composite slipped 0.44 percent to 2,915 and the Singapore Straits Times index finished 0.26 percent higher at 3,337. Aussie stocks managed to finish higher, despite losing some earlier gains in late trade, the ASX200 ended 0.4 percent higher at 6,689. The Australian Westpac-Melbourne Institute Index of Consumer Sentiment fell 4.1% to 96.5 in July from 100.7 in June. The China Consumer Price Index, Month over Month, came in at -0.1% for June, while the Producer Price Index, Year over Year, came in at 0% below market consensus of 0.3% in June.

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In Asian forex markets USDJPY trading 0.10 percent higher at 108.96, the Aussie dollar continues lower against greenback at 0.6913 while Kiwi also trades lower at 0.6595 versus USD. Gold consolidates at 1,390 area while crude oil is 1.58 percent higher at $58.80 per barrel.Don’t miss a beat! Follow us on Twitter.