Asian Session
On Wednesday, the Asian stock market closed mostly lower, but the Japanese stock market continued to make its multi-year high. The Nikkei 225 made another multi-year high after the country’s Central Bank kept its policy unchanged during their two day meeting on Wednesday. The Central Bank raised the economic outlook for the country, which pushed the index to the 15.627 level with a gain of 1.60%. The Hang Seng index was the worst performer among Asian Markets, which closed with a loss of -0.45%, followed by Shanghai which closed with a loss of -0.14%.
Canon Inc. and Panasonic Corp were among the best performing stocks, closing with a gain of 2.4% and 2.7% respectively. Mitsubishi Corp was one of the worst performers, closing with a loss of -6.63% after investors locked some profits from earlier gains.
European Session
The European markets are trading slightly lower in the early morning session; investors are cautious ahead of Bernanke's comments. Any signs of tapering decisions by the Central Bank from its asset purchase program could hurt the strong dollar, and could take the wind out of this rally. On the other hand, If Bernanke does stay committed to his QE program, then it could make the dollar even stronger against its counter currencies, and the global stock market rally could continue.
The CAC 40 is the worst performer among European indices, and is down by almost -0.18%. The FTSE 100 and DAX both are trading lower as well, with a loss of -0.15% and -0.14% respectively.
DISCLOSURE & DISCLAIMER:
The above is for informational purposes only and NOT to be construed as specific trading advice. responsibility for trade decisions is solely with the reader.
by Naeem Aslam
On Wednesday, the Asian stock market closed mostly lower, but the Japanese stock market continued to make its multi-year high. The Nikkei 225 made another multi-year high after the country’s Central Bank kept its policy unchanged during their two day meeting on Wednesday. The Central Bank raised the economic outlook for the country, which pushed the index to the 15.627 level with a gain of 1.60%. The Hang Seng index was the worst performer among Asian Markets, which closed with a loss of -0.45%, followed by Shanghai which closed with a loss of -0.14%.
Canon Inc. and Panasonic Corp were among the best performing stocks, closing with a gain of 2.4% and 2.7% respectively. Mitsubishi Corp was one of the worst performers, closing with a loss of -6.63% after investors locked some profits from earlier gains.
European Session
The European markets are trading slightly lower in the early morning session; investors are cautious ahead of Bernanke's comments. Any signs of tapering decisions by the Central Bank from its asset purchase program could hurt the strong dollar, and could take the wind out of this rally. On the other hand, If Bernanke does stay committed to his QE program, then it could make the dollar even stronger against its counter currencies, and the global stock market rally could continue.
The CAC 40 is the worst performer among European indices, and is down by almost -0.18%. The FTSE 100 and DAX both are trading lower as well, with a loss of -0.15% and -0.14% respectively.
DISCLOSURE & DISCLAIMER:
The above is for informational purposes only and NOT to be construed as specific trading advice. responsibility for trade decisions is solely with the reader.
by Naeem Aslam