Asian stocks open on mixed performance

2019-04-11 09:11:50 GMT (
Asian stocks open on mixed performance

Asian stocks opened the fourth trading session of the week on mixed performance mostly negative, as the Japanese, Chinese and Australian stock indices fell in addition to Hong Kong's Hang Seng Index, while New Zealand's indices and the South Korean Kospi Index rose on Thursday, following the release of economic data by major Asian economies led by China's inflation data, which showed an accelerated growth of inflationary pressures during March in line with expectations.


This comes hours after the EU and UK's leaders reached an agreement to extend the deadline for the Brexit until the end of October, as the European Council President, Donald Tusk, said on Wednesday that this development provides "an additional six months for the United Kingdom to find the best possible solution", while the ECB President Mario Draghi, warned of the economy's downside risks as he reported a slowing in economic growth in the eurozone after the ECB decided to keep interest rates at zero levels.


Yesterday, we also followed the release of the Federal Reserve meeting minutes held on 19-20 March, which touched a gradual reduction in bond repurchases until September, with the Commission reducing its forecast for growth rates while raising the unemployment forecasts, as they also receded from their previous forecasts of a couple of rate hikes this year, and kept expectations to raise it once in 2020, as they agreed to keep interest rates between 2.25% and 2.50%.


The Federal Reserve meeting minutes showed that the Fed members were concerned about the slowing of economic growth in the United States and globally, which led them to recede from their previous forecasts of a couple of rate hikes this year, while adopting a policy of patience in raising them.


The Japanese stock indices witnessed a decline during today's trading, as the broader TOPIX index fell by 0.44% (7.06 points) to the level of 1,600.60, while Nikkei 225 index fell 0.28%, shedding 59.70 points to 21,627.87


China's CSI 300 also fell by 1.01% (41.18 points) to 4,044.67. the Shanghai Composite Index also fell 0.57% (18.43 points) to reach 3,223.50.


Hong Kong's Hang Seng Index shed 0.71% (212.41 points) to 29,907.15, while South Korea's Kospi rose 0.04% (0.89) points to 2,225.28.


To New Zealand's NZX 50 index rise by 0.47% (45.75 points) to reach 9,753.71. On the other hand, S&P/ASX 200 index of the Australian shares fell by 0.16% to lose 28.84 points and reach the level of 6,194.70.

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