Thursday, April 24, 2014

Epic Research Singapore : Asian Market Update

Asian markets mostly fell on Thursday, taking a lead from Wall Street, while Japanese traders are sitting back ahead of the corporate earnings season.

The euro held on to gains enjoyed on Wednesday after a survey of business activity hit its highest level in almost three years in April. Investors are also keeping an eye on US President Barack Obama's visit to Japan, hoping he will mention some progress on talks over a stalled Pacific-wide trade pact.

Tokyo eased 0.44 per cent by the break, Shanghai dipped 0.27 per cent, Seoul was 0.10 per cent off and Hong Kong was flat, while Sydney added 0.13 per cent.

US shares dipped on Wednesday following a report showing sales of new homes unexpectedly plunged 14.5 per cent in March from February, reinforcing a picture of a weakening housing market.

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