Daily Outlook

Asia Pacific stocks mixed; Japan’s exports in July slide on-year

Stocks in Asia Pacific were mixed in Wednesday trade as the S&P 500 stateside rose to a new record overnight. In Japan, the Nikkei 225 advanced 0.25% while the Topix index gained 0.12%. Japan’s exports in July declined 19.2% as compared with a year ago, according to provisional trade statistics from the country’s Ministry of Finance released Wednesday. That compares with a median forecast for a 21.0% decline by economists in a Reuters poll.

Mainland Chinese stocks were lower by the afternoon, as the Shanghai composite dipped 0.3% while the Shenzhen component shed 1.054%. Meanwhile, afternoon trading in Hong Kong is set to begin at 1:30 p.m. HK/SIN. Morning trade in the city was suspended earlier due to severe weather. South Korea’s Kospi advanced 0.56%. Shares in Australia rose, as the S&P/ASX 200 gained 0.77%.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 92.333 after touching an earlier low of 92.154. The Japanese yen traded at 105.58 per dollar following an earlier high of 105.09 against the greenback. The Australian dollar was at $0.7234, having risen from levels below $0.72 seen earlier this week.

Oil prices were lower in the afternoon of Asian trading hours, with international benchmark Brent crude futures down 0.7% to $45.14 per barrel. U.S. crude futures dipped 0.61% to $42.63 per barrel.

Asia Pacific stocks mixed; Japan’s exports in July slide on-year, CNBC, Aug 19

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