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27 Aug 2013
Asian equities embracing for US impact?
FXstreet.com (Chicago) – The possibility of war lingers in market participants’ minds after public announcements by US Secretary of State John Kerry on “undeniable” chemical weapons used in Syria against civil population killing at least 1,300 people. The US Department postponed a meeting with Russia on potential political solution, leaving declarations on hold.
The Hang Seng closed with 0.30% losses after Syrian conflict caused turmoil among market participants driven to risk aversion behaviors. Chinese Vice Finance Minister Zhu Guangyao stated that “the focal point (of G20) will be on how to minimize the external impact when major developed countries exit or gradually exit quantitative easing, especially causing volatile capital flows in emerging markets and putting pressures on emerging-market currencies” and affirmed the country is in no need to stimulate the economy with stimulus packages as factual proves seem to confirm economic expansion. The Shangai marks 0.19% losses so far two hours ahead of closing.
In Japan the Nikkei is up 0.13% as the yen represents safe haven bets in case of potential war retaliation from the US government after Syrian attack to civil population in the country last week. Japanese Economics Minister Amari stated Prime Minister Abe has not provided any instructions to proceed with corporate tax cut. In Australia, the ASX All Ordinaries is up by 0.09% while in Mumbai the Sensex falls 1.32%. Taiwan also suffers losses in the region with -0.61% decline. Finally, the Thailand SET Index prints 1.33% losses for the 9th consecutive day, the longest losing streak since 1998.
The Hang Seng closed with 0.30% losses after Syrian conflict caused turmoil among market participants driven to risk aversion behaviors. Chinese Vice Finance Minister Zhu Guangyao stated that “the focal point (of G20) will be on how to minimize the external impact when major developed countries exit or gradually exit quantitative easing, especially causing volatile capital flows in emerging markets and putting pressures on emerging-market currencies” and affirmed the country is in no need to stimulate the economy with stimulus packages as factual proves seem to confirm economic expansion. The Shangai marks 0.19% losses so far two hours ahead of closing.
In Japan the Nikkei is up 0.13% as the yen represents safe haven bets in case of potential war retaliation from the US government after Syrian attack to civil population in the country last week. Japanese Economics Minister Amari stated Prime Minister Abe has not provided any instructions to proceed with corporate tax cut. In Australia, the ASX All Ordinaries is up by 0.09% while in Mumbai the Sensex falls 1.32%. Taiwan also suffers losses in the region with -0.61% decline. Finally, the Thailand SET Index prints 1.33% losses for the 9th consecutive day, the longest losing streak since 1998.