Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Asia stocks mixed on Russia concerns; Nikkei ends up 1%

Published 03/27/2014, 03:52 AM
Updated 03/27/2014, 03:52 AM
Asia stocks mixed as Russia concerns weighs

Asia stocks mixed as Russia concerns weighs

Investing.com - Asian stock markets were mixed on Thursday, amid concerns tougher sanctions against Russia will hurt global growth.

During late Asian trade, Hong Kong's Hang Seng Index shed 0.2%, China’s Shanghai Composite Index slumped 0.83%, Australia’s S&P/ASX 200 Index closed 0.5% lower, while Japan’s Nikkei 225 Index reversed earlier losses to up 1.01%.

Asia was given a negative lead from the U.S., where markets ended lower after President Barack Obama urged Europe not to get complacent over Russia's recent annexation of Crimea.

Speaking in Brussels on Wednesday, Obama told allies complacency against Russia could have serious consequences, including stiffer sanctions slapped on Russia if Moscow makes new incursions into Ukraine.

Economic sanctions could threaten Russia with a recession that could drag on the global economy.

In Tokyo, the Nikkei shook off earlier weakness to end at a two-week high as investors monitored movements in the currency market.

USD/JPY fell to a daily low of 101.70 earlier in the session, before turning higher to trade at 102.27.

Index heavyweights Fast Retailing (9983.TOK) and Fanuc (6954.TOK) saw shares climb 3.3% and 1.7% respectively.

Meanwhile, in Australia, the ASX/200 Index closed lower as losses in the mining sector weighed on the benchmark index.

Gold producers Newcrest Mining (NCM.ASX) and Kingsgate Consolidated (KCN.ASX) slumped 3.3% and 2% respectively, while Fortescue Metals Group (FMG.ASX) dropped 1.3%.

Elsewhere, shares in mainland China and Hong Kong declined as ongoing concerns over the health of China’s economy weighed.

Index heavyweight Tencent (0700.HK) tumbled 5.8%, while Citic Pacific (0267.HK) surged 14.7%.

Looking ahead, European stock market futures pointed to a modestly lower open. The DJ Euro Stoxx 50 futures pointed to a loss of 0.2%, France’s CAC 40 futures shed 0.2%, London’s FTSE 100 futures indicated a decline of 0.35%, while Germany's DAX futures dipped 0.15%.

Across the Atlantic, U.S. equity markets pointed to a firm open. The Dow 30 futures pointed to a gain of 0.12%, S&P 500 futures inched up 0.07%, while the Nasdaq 100 futures indicated a rise of 0.15%.

The U.S. is to publish final data on fourth quarter economic growth. The nation is also to release the weekly report on initial jobless claims and private sector data on pending home sales.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.