Wednesday 27 May 2015

Asian Market Update : Epic Research Malaysia

Asian equity markets traded mixed early Wednesday, following a unimpressive lead from Wall Street overnight.

The US major indexes finished 1 percent lower each amid renewed strength in the US dollar and some upbeat data that could bolster the case for a quicker-than-expected rate hike. Wall Street reopened for its first trading day of the week after being closed for Monday's Memorial Day.

Japan's benchmark Nikkei 225 reversed a lower open to hover marginally above the flatline, as the dollar-yen touched 123.28 - the currency pair's highest level since July 2007.

The relatively weak yen ensured a mixed open for export-oriented stocks; Sharp and Toyota Motor opened up 0.6 and 0.4 percent, respectively, but Sony and Nintendo lost over 1 percent each.

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