Investing.com – Asian stock markets fluctuated between small gains and losses on Thursday, as optimism over strong overnight gains on Wall Street faded, while poor regional data and concerns China could raise rates also weighed.
During late Asian trade, Hong Kong's Hang Seng Index dropped 0.9%, Australia’s ASX/200 Index eased down 0.03%, while Japan’s Nikkei 225 Index edged 0.34% higher.
Earlier in the day, Japan’s Cabinet Office said that core machinery orders fell by the most in ten months in July, plunging 8.2%, worse than expectations for a 4.2% drop, as companies lowered spending due to a strong yen and an uncertain global outlook.
Following the news, shares in Fanuc, Japan’s leading manufacturer of industrial robots tumbled 3.4% while Komatsu, a maker of heavy machinery, dropped 1.95%.
Strong gains in commodity-linked shares boosted the Nikkei, as raw material prices advanced, boosting the earnings outlook for miners and oil explorers.
Japan’s biggest oil producer Inpex saw shares jump 4.45%, while the nation’s second largest commodities trader Mitsui & Company saw shares climb 1.55%.
In Hong Kong, shares in the financial sector led losses ahead of the release of Chinese inflation data on Friday and after state-run newspaper China Securities Times indicated that Beijing could raise rates in the near-term.
Industrial and Commercial Bank of China saw shares slump 1.45%, Bank of China Hong Kong shares tumbled 3.9%, while China Construction Bank shares dipped 0.7%.
Meanwhile, Australia’s ASX/200 Index gave up gains after official data showed that the country’s unemployment rate rose unexpectedly in August, climbing to 5.3% from 5.1%.
The outlook for European stock markets was mixed ahead of the European Central Bank’s interest rate announcement.
The EURO STOXX 50 futures pointed to a modest decline of 0.25%, France’s CAC 40 futures shed 0.3%, the FTSE 100 futures edged 0.1% higher, while Germany's DAX futures eased up 0.05%.
Later in the day, the U.S. was to publish official data on its trade balance as well as a weekly government report on initial jobless claims, while U.S. President Barack Obama was to make a speech to Congress to propose new employment measures.
During late Asian trade, Hong Kong's Hang Seng Index dropped 0.9%, Australia’s ASX/200 Index eased down 0.03%, while Japan’s Nikkei 225 Index edged 0.34% higher.
Earlier in the day, Japan’s Cabinet Office said that core machinery orders fell by the most in ten months in July, plunging 8.2%, worse than expectations for a 4.2% drop, as companies lowered spending due to a strong yen and an uncertain global outlook.
Following the news, shares in Fanuc, Japan’s leading manufacturer of industrial robots tumbled 3.4% while Komatsu, a maker of heavy machinery, dropped 1.95%.
Strong gains in commodity-linked shares boosted the Nikkei, as raw material prices advanced, boosting the earnings outlook for miners and oil explorers.
Japan’s biggest oil producer Inpex saw shares jump 4.45%, while the nation’s second largest commodities trader Mitsui & Company saw shares climb 1.55%.
In Hong Kong, shares in the financial sector led losses ahead of the release of Chinese inflation data on Friday and after state-run newspaper China Securities Times indicated that Beijing could raise rates in the near-term.
Industrial and Commercial Bank of China saw shares slump 1.45%, Bank of China Hong Kong shares tumbled 3.9%, while China Construction Bank shares dipped 0.7%.
Meanwhile, Australia’s ASX/200 Index gave up gains after official data showed that the country’s unemployment rate rose unexpectedly in August, climbing to 5.3% from 5.1%.
The outlook for European stock markets was mixed ahead of the European Central Bank’s interest rate announcement.
The EURO STOXX 50 futures pointed to a modest decline of 0.25%, France’s CAC 40 futures shed 0.3%, the FTSE 100 futures edged 0.1% higher, while Germany's DAX futures eased up 0.05%.
Later in the day, the U.S. was to publish official data on its trade balance as well as a weekly government report on initial jobless claims, while U.S. President Barack Obama was to make a speech to Congress to propose new employment measures.