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Asia-Pacific equities are mixed
On Monday, stock indexes of the Asia-Pacific region were mixed during the morning trading session. It’s due to the fact traders are quite cautious, as tension in trade relations is still in the spotlight after Donald Trump unexpectedly refused to back a joint communiqué on the outcomes of the G7 summit on the weekend. Traders are also waiting for the outcomes of major events this week, such as beginning with Trump's highly anticipated meeting with North Korean dictator Kim Jong-no in Singapore to be held on Tuesday as well as major bank sessions in America, Japan and the euro zone.
As for the Australian market, it’s completely unavailable today because of the official holiday in Australia.
The Japanese market managed to recover after a mediocre start and it’s currently traded higher, after Friday’s upbeat clues from Wall Street, and the fact that the basic data on orders for machinery products in this Asian country beat expectations in April.
As for the key exporters, Sony gained over 1%, Panasonic acquired 0.4%, while Canon and Mitsubishi Electric soared less than 0.1%.
One of the most well-known Japanese car makers, Toyota had its capitalization lowered by approximately 0.3%, while Honda managed to tack on 0.5%. In addition to this, in the banking sector, equities of Mitsubishi UFJ Financial and Sumitomo Mitsui Financial headed south respectively 0.3% and 1%.
In April, key orders for engineering products in Japan tacked on, taking into account seasonal fluctuations of 10.1% following a 3.9% sag in March. Market experts had expected the surge rate of just 2.8%.
Besides this, on an annualized basis, orders for machinery products inched up approximately 9.6% after a 2.4% dive in March. As a matter of fact, the indicator turned out to be higher than the anticipated surge of 3.9%.
The US NFP will be published on August 7 at 15:30 MT time.
The market sentiment is indeed risk-on today. Stocks, riskier currencies and gold are rising amid the waning US dollar.
Follow the BOE monetary policy and rate statements on August 6 at 14:00 MT time…