Asian markets are mixed after yen hits 5-month peak
On Tuesday, Asian markets showed resilience to the emerging-markets sell-off, which had been hitting global markets, with stocks broadly mixed as well as Asian currencies gaining some strength.
Trumpism is starting to get fully priced in to a degree, as some financial experts state. From their point of view the metrics for Asia turn to be better compared to other emerging markets.
The Hang Seng Index Index reversed Monday’s abrupt losses, gaining 0.4%. Meanwhile, the Nikkei Stock Average NIK dived 0.2% even the Japanese yen ascended 0.2% against the American dollar. The currency pair was last trading at 108.18 yen and it crossed the critical ¥108 barrier earlier in the morning trading session.
The S&P/ASX 200 XJO descended 0.5%, following an overnight sag in commodity prices. BHP Billiton BHP lost 0.7%, Rio Tinto RIO edged down 0.7%. An abrupt rise in commodity prices has helped the country’s growth outlook to improve closer to the end of a long resources boom.