▲ Up
 
14:03 11-12-2016
MAIN АКИpress CA-News
About us On-line subscription
KazakhstanKyrgyzstanMongoliaTajikistanTurkmenistanUzbekistanWorld
POLITICSBUSINESSINCIDENTSSOCIETYCULTURESPORTANALYSISSCIENCE
Asian stocks fall, ECB uncertainty continues to pummel euro
13:07, 02 September 2014, 457

AKIPRESS.COM - e5d3c87fc4beb2d64c47087eaf50566d Asian shares slipped on Tuesday as a U.S. holiday robbed markets of momentum, while the euro hit a fresh one-year low on uncertainty over the European Central Bank's policy decision later this week, reports Reuters.

Spreadbetters expected an effectively flat open for Europe, with Britain's FTSE .FTSE, Germany's DAX .GDAXI and France's CAX .FCHI forecast to open about 0.1 percent higher. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS lost 0.6 percent after managing to carve out gains on the previous day.

With U.S. markets closed for Labor Day, investors in Asia were somewhat subdued. The mood was also tempered by persistent geopolitical concerns and anemic manufacturing surveys in Asia and Europe showing pockets of weakness in the global economy.

Tokyo's Nikkei .N225 bucked the trend and rose 1.2 percent, with a planned cabinet reshuffle by Prime Minister Shinzo Abe helping fuel reform hopes. The dollar, boosted by the flagging euro and gains in Tokyo shares that dented the appeal of the safe-haven yen, rose to a seven-month high of 104.87 yen JPY=.

"The dollar's gains are driven by actual flows, such as options-related buying. The market is also keeping an eye on the rise in equities," said Shinichiro Kadota, chief Japan FX strategist at Barclays Bank in Tokyo.

Immediate focus was on the ISM's report on U.S. manufacturing due later in the day, which might point to the U.S. phasing out quantitative easing just as the ECB contemplates its adoption. The euro slipped to a fresh one-year low of $1.3115 EUR=.

The common currency was expected to remain under pressure ahead of Thursday's European Central Bank policy meeting. While many market participants do not expect the ECB to take major easing steps this week, a few are seen braced for new policy measures. Further central bank easing is considered a matter of when and not if in the face of risks to euro zone growth posed by the Ukraine conflict and stubbornly low inflation.

"This week may start to mark the biggest shift in global monetary policy since 'Abenomics' went into full steam on the appointment of Haruhiko Kuroda to head up the BOJ," equity strategists at Jefferies wrote in a note to clients.

The decline in European headline inflation rates, collapse in German bund yields, and the call by the president of the ECB for 'growth friendly' fiscal policy suggests that Europe is finally moving towards quantitative easing, they said. The Australian dollar showed little reaction to the well-anticipated decision by the Reserve Bank of Australia to keep its cash rate at a record low 2.5 percent for the 12th consecutive meeting.

The Aussie was down 0.4 percent at $0.9296 AUD=D4 after brushing a one-week low of $0.9285. In commodities, Brent crude held steady below $103 a barrel on Tuesday, with new unrest in OPEC oil producer Libya balanced by concerns of slowing oil demand growth due to weak economic recoveries in China and Europe. [O/R]

Palladium hovered near a 13-1/2 year high of $910 an ounce hit overnight on fears that possible Western sanctions against Russia over the Ukraine crisis could hit supply from the world's top producer of the metal, while gold nudged higher. [GOL/] Spot palladium XPD= last traded at $904.50 an ounce. Russia accounted for more than 40 percent of global palladium supply last year.


Twitterfacebookprint
LATEST NEWS
13:30 Atambayev comments on his previous comment on Russian military base in Kyrgyzstan13:00 Atambayev: "Kyrgyzstan would achieve a lot in presidential system during 5 years, but we must not give up on chosen path of parliamentary country"12:22 Atambayev: "So far, we see that SDPK and Respublika parties making to Bishkek city council"12:05 Kyrgyz referendum voter turnout was 3.35% as of 10 AM11:50 "I pray to God we exceed 30% referendum validity threshold," says Atambayev11:01 Twin bombing outside Istanbul soccer stadium kills 29, wounds 16610:30 Kyrgyzstan votes in landmark constitutional referendum17:00 Watch young Nazarbayev being sworn in as president of Kazakhstan for the first time16:47 85 journalists accredited to cover constitutional referendum and local council elections in Kyrgyzstan16:35 Tajik FM meets with Austrian, U.S., Afghanistan colleagues15:26 Kyrgyzstan, Finland discuss cooperation14:11 Centerra Gold says it suspends dividends, extends Öksüt project financing facility13:05 Kyrgyzstan not against NGOs' participation in OSCE ODIHR events but criminals12:49 Tajik FM accuses OSCE of double standards12:32 Islam Karimov memorial to appear in Moscow11:25 French court denies Kazakh tycoon Ablyazov's extradition to Russia11:23 Kazakhstan may offer to freeze its output at Vienna talks: Minister11:18 Gambia leader Yahya Jammeh rejects election result10:40 Obama orders review of cyber attacks on 2016 election10:22 Israel could become counter-terror training hub for Kazakhstan and Central Asia: Ambassador
Astana
-3° C
Ashgabat
+12° C
Bishkek
+1° C
Dushanbe
+2° C
Tashkent
+7° C
Ulaanbaatar
-16° C
exchange rates
 
73.52
69.24
10.03
1.09
355.17
334.31
48.44
5.31
6.85
6.26
1.01
0.12
3286.53
2888.39
446.81
42.81
3.70
3.50
0.51
0.06

© AKIpress News Agency - 2001-2016. All rights reserved
Republication of any material is prohibited without a written agreement with AKIpress News Agency. Any citation must be accompanied by a hyperlink to akipress.com.
Our address:
Moskovskaya str. 189, Bishkek, the Kyrgyz Republic
e-mail: english@akipress.org, akipressenglish@gmail.com;
Tel/Fax: +996(312)90-07-75