Radiocor News

Asian shares closed mixed

Tokyo Nikkei 225 up 0.25%, S&P ASX 200 down 1.33% (Il Sole 24 Ore Radiocor) - Tokyo , 11 Jun - Asian shares closed mixed as caution prevailed after last week's gains, with trade resuming in Australia, Hong Kong, mainland China and Taiwan after yesterday's public holiday.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.5% after rising 3% last week following a two-week drop.

Investors awaited a Federal Reserve meeting tomorrow, with the central bank expected to keep rates steady and offer more cues on its future rate path.

A stronger-than-expected US jobs report released on Friday showed that hiring and wage growth picked up in May, rekindling concerns over US interest rates. The figures prompted investors to dial back hopes for an early Fed rate cut.

Traders also braced for the Bank of Japan's two-day monetary policy meeting this week, where the central bank is expected to tighten monetary policy by lowering its bond purchases, following recent signs of a rebound in Japanese inflation and improving wages.

China and India's inflation numbers for May are on tap tomorrow.

Fresh political uncertainty in Europe also kept sentiment in check, after the European Union elections showed a broader shift towards right-wing and far-right parties. French president Emmanuel Macron called for snap legislative elections later in June after his party lagged Marine Le Pen's far-right party in the EU vote.

The Nikkei index closed up 0.25% at 39,134 points, in Sydney the S&P ASX 200 closed down 1.33% at 7,755 points, while in Seoul the KOSPI closed up 0.15% at 2,705 points.

The Shanghai Composite index was down 0.63% at 3,032 points and the Hong Kong Hang Seng index was down 0.82% at 18,217 points. In Mumbai the Sensex index was up 0.27% at 76,695 points.

AAA-Ver

(RADIOCOR) 11-06-24 09:17:10 (0200) 5 NNNN

 


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