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Monday, August 19th, 2019

BANK OF JAPAN : Mixed Tuesday for Asian stocks despite modest overnight gains on Wall Street

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by December 20, 2016 General

BERLIN, Germany – Asian markets were mixed on Tuesday despite modest overnight gains on Wall Street as attacks in Germany and Turkey kept investors’ appetite for risk in check.The Bank of Japan, meanwhile, kept its policy unchanged as expected.“A series of events were seen erupting and adding to the existing list of concerns. As the tensions between U.S. and China look set to ease with the latter returning the seized drone as early as today, chaos was seen striking Switzerland, Germany and Turkey,” Jingyi Pan, a market strategist at IG in Singapore, said in a commentary.The dollar strengthened to 117.88 yen from 117.12 yen. The euro rose to $1.0380 from $1.0401. The dollar climbed back towards a 14-year high on Tuesday as the yen fell after the Bank of Japan held policy steady and fallout from attacks in Germany and Turkey subdued the euro.“The biggest impact you see from the attacks in Berlin and Istanbul is the Swiss franc/euro,” said Societe Generale FX strategist Alvin Tan.The Turkish lira and Russian rouble, meanwhile fell to session lows against the greenback on news the Russian ambassador to Turkey was killed in a gun attack.European shares were steady, with unease over the attacks balanced by gains by bank shares and the Milan market after Italy’s government said it wanted approval for up to 20 billion euros to rescue troubled lenders.On Monday, Wall Street ended higher, albeit below the session’s highs, as optimism over Fed reserve Chairman Jane Yellen’s upbeat comments about the U.S. labour market offset some of the risk aversion after attacks in Germany and Turkey.(c) 1998-2016 Big News Network. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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