Asian markets lack direction due to Apple’s early announcement of New iPhones


Equity markets closed the market in mix in its latest market session, as broad gains in financials pushed stock Australia and Japan positive position, while Chinese markets failed to eke out even the slightest gains.

Although all three major stocks in the U.S. broke new session highs in the market as geopolitical tensions continue to ease, still some Asian markets were unable to squeeze out gains. Hong Kong’s Hang Seng index was one of the Indices that led the declines with a 0.5% decrease in the index, while the Shangahai Composite Index was recently 0ff by 0.1%.

In Japan Nikkei stock average went up by 0.5% as the session started which added gains after closing at its highest level in five weeks however, the yen hit a 19-month low against the Euro in turn helping shares of exporters.

Australia’s S&P/ASX 200 was up by 0.3%, while South Korea’s Kospi was found trading with a 0.1% increase and the New Zealand’s NZX 50 was up just a meager 0.40%

Financial stocks were among the best regional performers on Wednesday, due to the gains in bond yields as its prices broadly declined. Australia’s four major banks were up by about 0.8% while Japan’s Topix banks added 1.5%

Meanwhile, technology stocks were found lower as investors took profit after Apple’s launch and announcements of its latest iPhone models. Some investors were skeptical about the announcement saying that it was too early to gauge future demand for the new phones.


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