Asian stocks were mixed again today (March 25th) as Wall Street edged down on interest rate hike worries and eurozone shares gained on strong manufacturing data.
US investor sentiment was dampened by the strong dollar, as well as the prospect of higher US interest rates following improved economic data. The Dow and S&P both shed 0.6 per cent overnight.
Meanwhile, European stocks reached new highs on better-than-expected eurozone manufacturing data.
"It remains to be seen whether we are going through a period of equilibrium, where bulls and bears even each other out, or simply a period where traders are happy to ride out the end of a good quarter by staying on the sidelines," Nicholas Teo of CMC Markets in Singapore wrote in a commentary seen by AP.
Japan's benchmark Nikkei 225 index lost 0.4 per cent to 19,638.90 and South Korea's Kospi edged down 0.1 per cent to 2,040.23. Hong Kong's Hang Seng gained 0.4 per cent to 24,490.77 while the Shanghai Composite Index in mainland China lost 1.1 per cent to 3,652.57. Australia's S&P/ASX 200 remained flat at 5,967.60.
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.