Stocks in Asia weaken on Tokyo policy moves
On Tuesday, Asian stocks held weaker as markets became cautious on Japan as well as its efforts on monetary and also fiscal policies and noted poor Australia data.
In Japan, the Nikkei 225 edged down 0.68% after Japanese Finance Minister Taro Aso told exchange rates were demonstrating extremely nervous moves. Additionally, the minister unveiled its readiness to closely watch currency movements.
Meanwhile, in Australia, the S&P/ASX dropped 0.19% as June’s building approvals sagged 2.9%, compared with a 0.5% revenue observed month-on-month as well as the trade balance soared to a deficit of approximately A$3.195 billion from an expected deficit of A$2 billion as well as last month’s figure of about A$2.418 billion.
The Shanghai Composite slumped 0.16%.
Overnight, American stocks showed quite mixed performance after Monday’s close, as revenues in the Healthcare, Technology and Consumer Services sectors brought stocks higher, while losses in the Oil & Gas, Telecoms as well as Basic Materials sectors brought stocks down.