Japan's Nikkei remained flat today (September 5th), as investors were torn between optimism on exports and cautiousness ahead of the release of fresh US employment data.
The market was driven by the yen's depreciation against the US dollar after the European Central Bank announced it was going to cut interest rates to record lows, along with plans to buy asset-backed securities and covered bonds in October.
However, investors remained cautious in anticipation of the publication of the US non-farm jobs report due later today.
Economists expect it will show that 225,000 new jobs were added last month, following a gain of 209,000 in July, according to the Wall Street Journal.
The Nikkei dropped 0.1 per cent to 15,668.68, while the broader Topix declined 0.3 per cent to 1,293.21, and the new JPX-Nikkei Index 400 shed 0.3 per cent to 11,732.03.
The 225-issue Nikkei Stock Average was up 0.17 per cent to 15,702.48.
Learn about the Asian markets and CFD trading at City Index.
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.