Investing.com - Asian stocks were mixed during Wednesday’s session following tepid U.S jobs data that has traders antsy about the Federal Reserve’s next move when it comes to its quantitative easing program.
In Asian trading Wednesday, Japan’s Nikkei 225 fell 0.64%. While a delay in Fed tapering would likely boost riskier assets, Japanese stocks could actually benefit from immediate tapering because reduced easing by the U.S. could force the dollar higher and the yen lower.
Macquarie expects USD/JPY at 105 over the next six months while Goldman Sachs sees USD/JPY at 103 in six months and 125 in 2016, according to CNBC.
Hong Kong’s Hang Seng fell 0.11% while the Shanghai Composite slipped 1.17% on expectations the Chinese central bank will take strong measures next year to cool the country’s overheating residential real estate market.
Small-caps were among the worst-performers Wednesday in China as China’s benchmark money-market rate jumped the most since July, according to Bloomberg.
Australia’s S&P/ASX rose 0.3% and continued to make new five-year highs after the Australian Bureau of Statistics said that Australia’s consumer price inflation rose to 1.2% in the third quarter after a 0.4% reading in the prior quarter. Analysts expected a third-quarter reading of 0.8%.
In a separate report, the Reserve Bank of Australia said that Australian trimmed mean CPI was 0.7% last quarter up from 0.6% in the second quarter. Analysts expected a third-quarter reading of 0.6%
In U.S. economic news out Tuesday, the U.S. Labor Department said the U.S. economy added 148,000 jobs in September, well below expectations for an increase of 180,000.
The previous month’s figure was revised up to a gain of 193,000 from a previously reported increase of 169,000. July's figure was revised down to 89,000 from 104,000. The unemployment rate in the world’s largest economy fell to 7.2% from 7.3%.
New Zealand’s NZSE 50 climbed 0.85% while Singapore’s Straits Times Index gained 0.41%. South Korea’s Kospi lost 0.62%. S&P 500 futures fell 0.28% a day after the benchmark U.S. index gained 0.57%.
In Asian trading Wednesday, Japan’s Nikkei 225 fell 0.64%. While a delay in Fed tapering would likely boost riskier assets, Japanese stocks could actually benefit from immediate tapering because reduced easing by the U.S. could force the dollar higher and the yen lower.
Macquarie expects USD/JPY at 105 over the next six months while Goldman Sachs sees USD/JPY at 103 in six months and 125 in 2016, according to CNBC.
Hong Kong’s Hang Seng fell 0.11% while the Shanghai Composite slipped 1.17% on expectations the Chinese central bank will take strong measures next year to cool the country’s overheating residential real estate market.
Small-caps were among the worst-performers Wednesday in China as China’s benchmark money-market rate jumped the most since July, according to Bloomberg.
Australia’s S&P/ASX rose 0.3% and continued to make new five-year highs after the Australian Bureau of Statistics said that Australia’s consumer price inflation rose to 1.2% in the third quarter after a 0.4% reading in the prior quarter. Analysts expected a third-quarter reading of 0.8%.
In a separate report, the Reserve Bank of Australia said that Australian trimmed mean CPI was 0.7% last quarter up from 0.6% in the second quarter. Analysts expected a third-quarter reading of 0.6%
In U.S. economic news out Tuesday, the U.S. Labor Department said the U.S. economy added 148,000 jobs in September, well below expectations for an increase of 180,000.
The previous month’s figure was revised up to a gain of 193,000 from a previously reported increase of 169,000. July's figure was revised down to 89,000 from 104,000. The unemployment rate in the world’s largest economy fell to 7.2% from 7.3%.
New Zealand’s NZSE 50 climbed 0.85% while Singapore’s Straits Times Index gained 0.41%. South Korea’s Kospi lost 0.62%. S&P 500 futures fell 0.28% a day after the benchmark U.S. index gained 0.57%.