Tradewise Report

on . Posted in Investment general

The Nikkei Index closed lower on Monday as the Yen strengthened against the Dollar following weaker-than-expected U.S. jobs data on Friday, with exporters being sold off as investors took their profits off the table.

Shares in Hong Kong and on mainland China ended firmer on Monday, as the shares of baby product producers surged on expectations that Chinese authorities may allow more couples to have two children.

According to Reuters, European markets are expected to open slightly higher on Monday, on the back of firmer US markets on Friday despite lukewarm U.S. jobs data where investors’ expect the monetary stimulus from the Federal Reserve to continue.

Reuters reports that shares on Wall Street closed higher on Friday, despite U.S. non-farm payrolls data coming in at 162 000‚which was much lower than the 183 000 increase expected, while the unemployment rate slipped to 7.4% from 7.6%.

The Business Day website reports that the JSE closed lower in choppy trading on Friday‚with gold mining shares weighing on the local market despite a slightly firmer gold price, while investors also mulled over the weaker than expected US non-farm payrolls data.

The Rand was last trading firmer at R9.8320 against the Dollar, stronger at R13.0837 against the Euro, and firmer at R15.0442 against the British Pound.

Gold was last trading higher at $1 314.30, with the platinum price quoted at $1 443.25, while the palladium price was at $730.50.

Brent crude oil was last trading slightly lower at $109.11 a barrel.