Asian shares meander, S&P 500 sets new record
In Asia most major markets were trading higher except for Tokyo’s Nikkei 225, Seoul’s Kospi, Taiwan’s Taiex and Bangkok’s SET which made losses. Bourses in US were higher
Bangkok: Asian shares were mixed on Thursday after US stocks broke out of a three-day lull to close at a record. Oil prices advanced, while US futures edged lower. The dollar remained strong against the Japanese yen and Chinese yuan, a trend that has unsettled regulators in both Tokyo and Beijing. The dollar rose to 151.39 yen from 151.30 yen. The euro slipped to $1.0803 from $1.0828.
On Wednesday, the yen dipped to its lowest level since 1990, and Japanese officials reiterated their desire for stability in exchange rates. “As the yen continues to show vulnerability, market participants will be vigilant for any hints of possible intervention in the currency market by Japanese policymakers,” Anderson Alves of ActivTrades said in a commentary.
The dollar bought 7.2286 yuan. It also has weakened against the dollar in recent weeks. “We continue to think that policymakers in China and Japan will do enough to keep their currencies from weakening much further, but the risk of a break lower in one, or both, is increasing,” Jonas Goltermann of Capital Economics said in a report.
In Tokyo, the Nikkei 225 lost 1.5 per cent to 40,168.07.
