ASIA-PAC MARKET WRAP: Asia traded indecisive after a tepid Wall St close, while greenback languished post-FOMC minutes

Asia equity markets traded indecisive following a relatively tepid close in the US where basic materials outperformed as zinc rose above USD 3000/ton to a decade high, while energy and financials declined on oil weakness and after US yields were pressured post-FOMC minutes. ASX 200 (Unch) was choppy with miners underpinned by strength across the metals complex and as a slew of earnings releases also drove individual stocks, while Nikkei 225 (-0.1%) was subdued by a firmer currency. Elsewhere Shanghai Comp (+0.3%) and Hang Seng (-0.1%) were both initially higher, although the latter then pared gains on profit taking and amid an increase in money market rates. Finally, 10yr JGBs traded flat amid an indecisive risk tone in Japan, while the 5yr auction also failed to spur price action as the results were mixed.

17 Aug 2017 - 05:48- Important- Source: RANsquawk

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