Most of the stocks in Asia were marginally lower on Monday’s opening bell. This is in reaction to the dollar’s falling amid the released U.S. GDP data last Friday and the recent political turmoil’s surrounding the Korean Peninsula.
According to the advanced estimates of the Commerce Department, the gross domestic product (GDP) in the U.S. rose more than 2.6 percent for Q2. The released figures made the greenback recover some of its losses after declining last Friday. The U.S. dollar index settled down at 93.256.
The stock markets are currently keeping an eye on the rising geopolitical tensions in North Korea after the estranged nation fired a missile that might have landed on the Japanese coast. The United States launched two B-1B bombers over the peninsula as a response which pressed other countries within the region to discuss the serious issue.
Looking on Asian indexes, Japanese benchmark Nikkei 225 index inched lower by 0.07 percent and the Kospi index in South Korea was slightly down by 0.06 percent on Monday’s open. However the Aussie benchmark ASX 20 index rose more than 0.14 percent, with its telecommunication services advancing by 0.88 percent and materials sub-indexes jumping by 0.93 percent.
On the same day, the industrial production data for the month of June in Japan mirrored a rise of 1.6 percent, lower compared to the predicted 1.7 percent by Reuters. They reported a drop by 3.6 percent for May. Yen inched up at 110.5 against the U.S. dollar in reaction to the news.
On other news, Hutchison Telecommunications Hong Kong Holdings said it would sell its fixed-line business to the private company Squared Capital for $1.9 billion.