Stocks in Tokyo rebounded on Monday, boosted by advances in exporters on the back of a weaker Yen which fell to a seven-month low against the US Dollar after the meeting of central bankers underlined the diverging paths of interest rates in Japan and the United States.
The Hang Seng Index, as well as the Shanghai Composite Index slipped lower on Monday, consolidating after the recent solid gains, while investors also set aside funds for the upcoming initial public offerings (IPOs) starting later this week.
According to Reuters, European markets are expected to open higher on Monday, rebounding from losses suffered the previous trading session after a speech by U.S. Federal Reserve Chair Janet Yellen at the annual gathering of central bankers.
Reuters reports that U.S. markets closed mixed on Friday with both the S&P 500 Index and the Dow Jones Industrial average slipping lower, while the technology-heavy NASDAQ closing in positive territory with investors digesting comments from Federal Reserve chair Janet Yellen over the job market which has not recovered and speculating that the Fed will continue providing support to the economy until it does..
Business Day reports that the JSE All Share Index closed in negative territory on Friday with investors following US Federal Reserve chair Janet Yellen’s long-awaited speech on future monetary policy direction, while concerns over high valuations also lingered.
The Rand was last trading weaker at R10.7111 against the US Dollar, with the Euro quoted stronger at R14.1338 and the British Pound at R17.7073.
The gold price edged lower in Singapore on Monday, trading near its lowest level in two months on the back of a firmer U.S dollar, while the possibility of U.S. interest rates increasing also hurt the precious metal's appeal as a hedge against inflation. Gold was last trading at $1,277.75, with the platinum price quoted at $1,417.10, while the palladium price was last trading at the $880.98 level.
Brent was last trading slightly lower at $102.13 a barrel.