All in all, Asian equity markets have seen mixed trade during the morning session, with the Nikkei trading in positive territory led by the export stocks on the back of a weakened JPY from the US session. The Nikkei press reported that the latest surveys suggest the opposition LDP party in Japan could win a majority, which drove the JPY to weaken across the board. The likelihood of further monetary easing from the Bank of Japan remains high and markets are focusing on Japanese elections on December 16th.
Pre-market the Reserve Bank of New Zealand kept rates unchanged at 2.50%. However, hawkish comments accompanied the announcement have aided the NZD to the upside. After today’s highlighted Australia employment change data came surprisingly better than expectation, AUD/USD immediately spiked higher by 27 pips and the AUD has continued to gain throughout the morning session.
Looking ahead, the calendar remains light, however we have Japanese 30yr bond auction due at 0345GMT/2145CST.
As of 0245 GMT:
ASX200 (-0.08 %), Nikkei 225 (+0.76%), Shanghai Comp. (-0.28%), Hang Seng (+0.03%), KOSPI (+0.35%)
06 Dec 2012 - 02:45 - - Source: RANsquawk
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