Asian equites pulled down in earlier trade due to stronger dollar with ASX by 1%

Asian-Indexes

Stocks in Asia struggled to acquire gains of Friday’s opening bell as investors kept a closer look on earnings season. The greenback recovering from its 13-month low also weighed on the market.

The U.S. dollar inched away from its declines amidst Asian trading session as the released durable goods orders in the United States for last month came out unexpectedly higher, which somehow gave the greenback a lift. Capital goods that are manufactured in the U.S. on June suggested an increase for five consecutive months.

On Asian indices, Japanese benchmark Nikkei 225 index edged down by 0.35 percent, the Kospi index in South Korea dropped more than 0.82 percent on the day and the Aussie benchmark ASX 200 declined as much as 1.04 percent driven by the poor performance from its sub-indexes. Health care sub-indexes and financial sub-indexes in Australia were all down by 1.6 percent and 1.23 percent respectively.

Regional markets in Asia could possibly keep its attention on corporate results. Hong Kong-listed insurance company AIA Group released an operating profit after their tax rose as much as 16 percent to $2.26 billion on the end of this year’s first quarter.

Japanese auto company Nissan lost more than 4.11 percent in shares after it announced a decline in operating profit by 12.8 percent in the first half of 2017. Nissan recorded a 153.3 billion yen (1.38 billion in USD) worth of operating profit. According to Reuters, the result beats their expectation of 171.45 billion yen.

 

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