Investing.com - Most Asian bourses are trading lower at this hour as traders are once again weighing concerns that China will resort to tighter monetary policy in an effort to avoid a possible real estate bubble.
In Asian trading Thursday, Japan’s Nikkei 225 rose 0.35%, but that is well off the highs of the day that saw the benchmark Japanese index trade up as much as 0.80%.
Hong Kong’s Hang Seng fell 0.68%, extending its losing streak to four consecutive days. The index has fallen 10% from its recent high. The Shanghai Composite is higher by 0.17% and looking to avoid a sixth straight down day.
Later today, Japan’s lower house of parliament will vote on the nomination of Haruhiko Kuroda for Bank of Japan leader.
Australia’s S&P/ASX 200 Index slipped 0.9% despite robust employment data. Earlier today the Australian Bureau of Statistics said that Australian unemployment rate remained unchanged at a seasonally adjusted 5.4%. Analysts expected a February reading of 5.5%.
In another report, the Australian Bureau of Statistics said that Australian employment change rose to a seasonally adjusted 71,500 in February from 13,000 in January. The January reading was revised higher from 10,400. Analysts expected a February increase of just 9,000 new jobs.
New Zealand’s NZSE 50 advanced 0.60% after Reserve Bank of New Zealand Governor Graeme Wheeler called the country’s dollar overvalued.
"The overvalued New Zealand dollar is undermining profitability in export and import competing industries, and worsening drought conditions are creating difficulty in much of the country. Ongoing fiscal consolidation will also act to slow overall demand," Wheeler said in a statement posted on RBNZ’s website.
Wheeler did pledge to keep New Zealand’s benchmark interest rate at 2.5% until 2014.
South Korea’s Kospi fell 0.78 while Singapore’s Straits Times Index dropped 0.24%. S&P 500 futures are flat at 1,549.95.
In Asian trading Thursday, Japan’s Nikkei 225 rose 0.35%, but that is well off the highs of the day that saw the benchmark Japanese index trade up as much as 0.80%.
Hong Kong’s Hang Seng fell 0.68%, extending its losing streak to four consecutive days. The index has fallen 10% from its recent high. The Shanghai Composite is higher by 0.17% and looking to avoid a sixth straight down day.
Later today, Japan’s lower house of parliament will vote on the nomination of Haruhiko Kuroda for Bank of Japan leader.
Australia’s S&P/ASX 200 Index slipped 0.9% despite robust employment data. Earlier today the Australian Bureau of Statistics said that Australian unemployment rate remained unchanged at a seasonally adjusted 5.4%. Analysts expected a February reading of 5.5%.
In another report, the Australian Bureau of Statistics said that Australian employment change rose to a seasonally adjusted 71,500 in February from 13,000 in January. The January reading was revised higher from 10,400. Analysts expected a February increase of just 9,000 new jobs.
New Zealand’s NZSE 50 advanced 0.60% after Reserve Bank of New Zealand Governor Graeme Wheeler called the country’s dollar overvalued.
"The overvalued New Zealand dollar is undermining profitability in export and import competing industries, and worsening drought conditions are creating difficulty in much of the country. Ongoing fiscal consolidation will also act to slow overall demand," Wheeler said in a statement posted on RBNZ’s website.
Wheeler did pledge to keep New Zealand’s benchmark interest rate at 2.5% until 2014.
South Korea’s Kospi fell 0.78 while Singapore’s Straits Times Index dropped 0.24%. S&P 500 futures are flat at 1,549.95.