Wednesday, 24 February 2016

ASIAN MARKET NEWS 25 FEBRUARY 2016

Hong Kong's Hang Seng Index was down 0.65 percent, while the Japanese benchmark Nikkei 225 index was up about 0.5 percent. Across the Korean Strait, the Kospi gained 0.41 percent.
The yen, which surged against the dollar in recent sessions, maintained the 112 handle; the pair traded at 112.12 as of 8.15 a.m. HK/SIN time.
A stronger yen is usually a negative for Japan's exporters as it reduces overseas profits when converted into local currency. But exporters saw mixed fortune early on, with Toyota down 2 percent, while Canon gained 0.74 percent.
Australia's S&P/ASX 200, which saw gains of 0.37 percent early on, lost support and traded down 0.1 percent. The heavily weighted financials sector was a drag, down 0.89 percent.


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