Investing.com - Most Asian stocks are trading lower at this hour as traders await headlines from the conclusion of the Bank of Japan’s monetary policy meeting later today.
In Asian trading Thursday, Japan’s Nikkei 225 is down 1.74% as traders fret that Governor Haruhiko Kuroda, presiding over his first meeting at the helm of the central bank, will not be able to deliver the goods in terms of additional monetary stimulus measures.
USD/JPY is trading slightly lower on speculation that Kuroda is having difficulty building a consensus among BoJ members to move forward with immediate stimulus efforts. With expectations high for Kuroda to deliver news that will weaken the yen, yen bears are arguably pensive today.
Hong Kong’s Hang Seng is lower by 0.14% while the Shanghai Composite is down 0.11% as Chinese shares drift lower following some concerning U.S. data points
In U.S. economic news, the ADP survey of private employers showed the addition of just 158,000 new jobs last month well below the estimate of 197,000. The February number was revised up to 237,000 new jobs. The Labor Department delivers the March non-farm payroll report and U.S. unemployment rate Friday before the open of U.S. markets.
The ADP reported sparked concerns that Friday's official March jobs report may miss earlier expectations for a pickup in job creation, which could convince U.S. monetary authorities to keep policy loose.
Australia’s S&P/ASX 200 Index fell 0.4% despite some decent economic data points out of the world’s 12th-largest economy. Official data released earlier today showed Australian retail sales rose 1.3% in February following a revised 1.2% gain in January. That easily topped the 0.3% gain economists expected. The February reading of Australian retail sales shows the largest increase since November 2009.
In another report, the Australian Bureau of Statistics said building approvals jumped 3.1% after a 2% drop in January.
The latest Australian Industry Group-Commonwealth Bank index showed an increase of 1.1 points to 49.6 last month. Readings below 50 indicate contraction, but the rate of declines in the index are slowing amid 14 straight months of readings below 50.
New Zealand’s NZSE 50 is proving to be one of the region’s bright spots with a gain of 0.27%. South Korea’s Kospi plunged 1.87% as intensifying threats from North Korea chased investors out of South Korean asssets.
Singapore’s Straits Times Index is off 0.20%. S&P 500 futures are down 0.05% following the worst one-day performance for U.S. stocks in a month.
In Asian trading Thursday, Japan’s Nikkei 225 is down 1.74% as traders fret that Governor Haruhiko Kuroda, presiding over his first meeting at the helm of the central bank, will not be able to deliver the goods in terms of additional monetary stimulus measures.
USD/JPY is trading slightly lower on speculation that Kuroda is having difficulty building a consensus among BoJ members to move forward with immediate stimulus efforts. With expectations high for Kuroda to deliver news that will weaken the yen, yen bears are arguably pensive today.
Hong Kong’s Hang Seng is lower by 0.14% while the Shanghai Composite is down 0.11% as Chinese shares drift lower following some concerning U.S. data points
In U.S. economic news, the ADP survey of private employers showed the addition of just 158,000 new jobs last month well below the estimate of 197,000. The February number was revised up to 237,000 new jobs. The Labor Department delivers the March non-farm payroll report and U.S. unemployment rate Friday before the open of U.S. markets.
The ADP reported sparked concerns that Friday's official March jobs report may miss earlier expectations for a pickup in job creation, which could convince U.S. monetary authorities to keep policy loose.
Australia’s S&P/ASX 200 Index fell 0.4% despite some decent economic data points out of the world’s 12th-largest economy. Official data released earlier today showed Australian retail sales rose 1.3% in February following a revised 1.2% gain in January. That easily topped the 0.3% gain economists expected. The February reading of Australian retail sales shows the largest increase since November 2009.
In another report, the Australian Bureau of Statistics said building approvals jumped 3.1% after a 2% drop in January.
The latest Australian Industry Group-Commonwealth Bank index showed an increase of 1.1 points to 49.6 last month. Readings below 50 indicate contraction, but the rate of declines in the index are slowing amid 14 straight months of readings below 50.
New Zealand’s NZSE 50 is proving to be one of the region’s bright spots with a gain of 0.27%. South Korea’s Kospi plunged 1.87% as intensifying threats from North Korea chased investors out of South Korean asssets.
Singapore’s Straits Times Index is off 0.20%. S&P 500 futures are down 0.05% following the worst one-day performance for U.S. stocks in a month.