Asian Stocks
Asian stocks were seen trading higher on the last trading day of the week, except the Japanese stocks. Meanwhile, investors are focusing on the central bankers gathering in Jackson Hole, where the Fed Chair Janet Yellen is expected to give a speech.
The Japanese Nikkei 225 index slid 0.30% lower to close at 15,539.19, while Tokyo’s Topix index declined 0.40% to 1,286.07.
In Japan, the electronics manufacturers Mitsumi electric jumped 2.86%, while GungHo Online Entertainment added 1.4% to 580 yen after SoftBank said it plans to buy the unit’s stake in a Finnish online game developer. On the downside, the Japanese steel manufacturer Japan Steel Works lost 2.46%.
Hong Kong Hang Seng index edged 0.30% to 25,068.87 at the time of writing, while the Chinese benchmark Shanghai Composite rose 0.22% to 2,235.31.
In China, the real estate developer Hang Lung Properties went up 2.64% in shares, while shares in China Rongsheng Heavy Industries Group advanced 9.4% to HK$1.52 after the company agreed to buy a stake in Kyrgyzstan oilfields.
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The South Korean Kospi index added 0.61% to 2,056.70, while the Australian benchmark S&P/ASX 200 index edged 0.15% closing at 5,647.40.
Yellen Speech in Focus
Data released yesterday showed that existing home sales in the US climbed in July to the highest since September, while the Conference Board’s gauge of the economic outlook for the next three to six months rose 0.9%. The preliminary index of US manufacturing in August rose to the highest level since April 2010, according to Markit Economics.
Meanwhile, the market will be focusing on the central bankers meeting in Jackson Hole in Wyoming, where the Fed Chair Janet Yellen is expected to give a speech and speak on the US jobs market.
European stocks
The European Euro Stoxx 50 fell 0.18% to 118.69 at the time of writing, while the German DAX slid 0.18% lower to 9,384.92 at the time of writing. In France, the benchmark CAC 40 index edged 0.22% lower to 4,283.32 and UK’s FTSE 100 index lost 0.06%, to trade at 6,773.32.
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