Asian Stocks
Asian stocks saw gains on Tuesday as the Japanese yen fell to a six-year low against the US dollar, boosting gains for the nation’s exporters.
The Japanese benchmark Nikkei 225 index rose 0.45% higher to 15,776.27 points at the time of writing, while Tokyo’s Topix index climbed 0.36% higher to 1,303.29 points. The Japanese yen weakened against the US dollar on Tuesday, trading around 106.15 yen on Tuesday.
The weaker yen boosted Auto stocks, as Honda Motor added 1.1% to 3,592.5 yen, while Mazda Motor rose 1.6% to 2,569 yen. Meanwhile Softbank advanced 4.5% to 7,969 yen, extending its two-day gain to 6.7% after released details of its upcoming initial public offering (IPO).
On the downside, the Japanese tool-building company Okuma lost 5% to 803 yen after Credit Suisse Group AG lowered its rating from outperform to underperform and reduced its share-price forecast from 1,300 yen to 750 yen.
The Chinese benchmark Shanghai Composite edged 0.12% higher to 2,329.13 points, while markets in South Korea and Hong Kong were closed for a public holiday.
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Australia
In Sydney, the benchmark S&P/ASX 200 index rose 0.19% higher to 5,587.70 points. Financial stocks saw gains, with Commonwealth Bank of Australia and ANZ up around 0.3% each, while National Australia Bank added 0.1%.
On the downside, bullion prices dragged gold producers lower, with Alacer Gold slumping 2.2% lower to A$2.28, Resolute Mining fell 5% and Newcrest lost 2%.
European Stocks
Stocks in Europe opened lower on Tuesday as the upcoming Scottish referendum remains in the spotlight.
The European Euro Stoxx 50 lost 0.22% to 3,258.50, while the French CAC 40 declined 0.14% to open at 4,494.30. In Germany, the benchmark DAX index fell 0.26% to 9,724.80 and UK’s benchmark FTSE 100 started 0.11% lower to 6,827.30.
Scottish Referendum Poll
Traders continue to focus on Scotland’s campaign for independence, scheduled for September 18. The latest poll report on Tuesday, showed that 38% respondents would vote ‘Yes’ to independence, while 39% opposed, falling from 45% previously.
In other news, European Union leaders have approved a new round of sanctions on Monday against Russia, but decided to abruptly put them on hold for at least a ‘few days’ to give more time to assess the viability of the ceasefire between Ukraine and Russia.
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