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Global Wrap:
Asian Markets Mixed As Gold Rises
Current Futures: Dow -11.00, S&P -0.90, NASDAQ -1.50
Shares on the Japanese Nikkei were trading lower at the start of trading throughout Asia. Firms were hurt by a weakness seen in exporters and banking shares while energy companies were trading higher after a massive gain was seen in the oil markets. Meanwhile, shares in Australia have gained as business confidence increases and gold jumps above $1,000 an ounce.
The MSCI Asia Pacific Index has risen 1.6 percent to its highest level since September 2008.
The Westpac Banking Corporation released a report stating that business confidence in Australia has risen to its highest level in nearly 13 months in September. July figures for Australian home loans came in at -2.0 percent according to the Bureau of Statistics. Also, retail sales fell for the month in July as consumers spent less on household goods and food items.
Overnight, the Japanese Nikkei declined 26.46 points (0.25%) to 10,366.77. The Australian S&P/Asx advanced 26.90 points (0.59%) to 4,550.70
Crude oil for October delivery was recently trading at $71.11 per barrel, higher by $0.01.
Gold for October delivery was recently trading higher by $2.90 to $1,002.70.