With traders pondering over the outcomes related to Cyprus discarding the plans for taxing the deposits with the nation’s banks, the Asian stock markets reported mixed reactions. A closer look at the Asian trading markets on Wednesday revealed that Shanghai Composite advanced by 1.54% and Hong Kong’s Hang Seng increased 0.68%. It was seen that that the USD/JPY was trading at a lower position by 0.17% at a value of 95.02, with the markets in Japan closed for the day in the event of a public holiday. S&P 500 futures are observed to be trading lower by a value of 0.14%. South Korea’s Kospi slid 0.29% whereas Singapore’s Straits Times Index fell 0.24%. The benchmark U.S. index has been moving lower for three successive sessions.
Australia’s S&P/ASX 200 slid 0.60% due to mining shares maintaining their positions. The shares of the largest mining organization globally, BHP Billiton, were listed by the U.S, according to market value, and were observed to have dropped sharply almost 11%, over the previous month. Following statements by Statistics New Zealand about the current account balance falling to a value of NZD-3.26 billion in the fourth quarter from a reading of NZD-4.42 billion observed in the third quarter, New Zealand’s NZSE 50 still increased 0.26%. There was a general expectation among analysts that the fourth-quarter reading to indicate NZD-3 billion.
An advance of 4.65 was recorded by Sands China Ltd., which is reputed as the Macau unit of Las Vegas Sands Corp., thus, leading profits among Hong Kong listed shares. The second biggest department store chain in Australia, David Jones Ltd., increased by 3.6% with profits exceeding the expectations. Prominent companies in the mining industry, Rio Tinto Group and BHP Billiton Ltd. moved down more than 2% in Sydney following the drop in commodities gauges observed the previous day.
The earlier day also recorded the MSCI Asia Pacific not including Japan Index (MXAPJ) moving ahead 5.8% over six months, with promising economic data from the U.S. as well as the stimulus presented by the central banks encountered concern related to efforts by China to harness the prices of properties.