0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bearish
Oil - US Crude
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Bullish
Gold
Bearish
GBP/USD
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Asian Stocks Wilt, Weaker US Dollar Weighs

Asian Stocks Wilt, Weaker US Dollar Weighs

2017-02-17 07:39:00
David Cottle, Analyst
Share:

Talking Points:

  • Asian stocks lacked reasons to rise on Friday
  • They duly didn’t, with the arrest of Samsung’s vice chair weighing further
  • The US Dollar also tracked back, although its NZ cousin took a double data hit

Stock markets slipped across the Asia/Pacific region on Friday to end a choppy weak on a sour note.

Wall Street didn’t provide much impetus on Thursday with equity markets there stuck. However, the Dow Jones Industrial Average’s bare 0.1% gain was enough to set yet another closing record. More locally the arrest of the billionaire vice chair of South Korean conglomerate Samsung on bribery and other charges didn’t help stock bulls’ cause. Lee Jae-young has faced multiple rounds of questioning but was finally charged on Friday. He has reportedly denied wrongdoing.

The US Dollar was moderately weaker against major rivals, which was as always taken badly by Asia’s exporter-heavy bourses. The Nikkei shed 0.6%. The woes of index heavyweight Toshiba continued to weigh, but electronics giant Sharp offered some better news with hope of higher operating income. Australia’s ASX slipped 0.2%, but has risen 1.5% this week, following a 1.8% rise last. Chinese indexes were down about 0.5% on the day.

Asian economic data were thin on the ground. The New Zealand Dollar took a double hit as both retail sales and manufacturing performance underwhelmed. The Singapore Dollar did better on news that the city-state’s exports surged again in January. China was a notably strong destination.

Crude oil prices edged up by few cents, on a report that major global producers could extend their output cuts.

The rest of the session will offer slim scheduled pickings for investors. Official UK retail sales data are due, along with the US leading indicators series.

If you’d like live analysis of the biggest market-moving events then please check out the DailyFX webinars.

--- Written by David Cottle, DailyFX Research

Contact and follow David on Twitter:@DavidCottleFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.