Investing.com - Asian stocks were mixed Thursday in another session that was short on risk appetite as skittish investors evaluated some mediocre U.S. data and mulled the future of the Federal Reserve’s quantitative easing program.
In Asian trading Thursday, Japan’s Nikkei 225 rose 0.44%. USD/JPY traded higher after opening the session in the red.
Prime Minister Shinzo Abe’s plan to raise sales tax in Japan also remains in focus. Next week’s tankan survey from the Bank of Japan is seen as crucial to Abe’s plan to push through the tax hike. Abe is looking to raise the sales tax to 8% from 5%, but he will not proceed with that measure if the world’s third-largest economy is not showing signs of improvement. If Japan’s consumption tax is increased it will be the first time since 1997.
Hong Kong’ Hang Seng fell 0.43% while the Shanghai Composite dipped 1.5%. On the mainland, stocks with ties to the Shanghai Free Trade Zone were among the laggards on speculation those stocks have run too far too fast.
The Hang Seng continued to lose ground on new e-commerce giant Alibaba will pursue a listing in the U.S. The company is seeking U.S. law firms to help with an IPO after talks for a Hong Kong listing broke down following management’s proposal to keep control in a share sale, Bloomberg reported.
Australia’s S&P/ASX 200 added 0.2% while New Zealand’s NZSE 50 inched down 0.03%. In U.S. economic news out Wednesday, the Commerce Department said durable goods orders rose 0.1% in August, but slid 8.1% in July after the number for that month was revised lower.
Economists were expecting a 0.5% decrease in August. Excluding transportation, durable goods orders fell 0.1% last month, below the 1% increase economists forecast.
Separately, the Commerce Department said new home sales rose 7.9% last month to a seasonally adjusted rate of 421,000. On a year-over-year basis, that is a 12.6% increase. Economists expected an August reading of 425,000 units. Sales of new homes rose in all regions except the West.
South Korea’s Kospi rose 0.29% even after the Bank of Korea said consumer confidence there fell to 102 in August from 105 in July. Economists expected an August reading of 105.
Singapore’s Straits Times Index added 0.66%. S&P 500 futures rose 0.14% a day after the benchmark U.S. index settled lower for a fifth consecutive day.
In Asian trading Thursday, Japan’s Nikkei 225 rose 0.44%. USD/JPY traded higher after opening the session in the red.
Prime Minister Shinzo Abe’s plan to raise sales tax in Japan also remains in focus. Next week’s tankan survey from the Bank of Japan is seen as crucial to Abe’s plan to push through the tax hike. Abe is looking to raise the sales tax to 8% from 5%, but he will not proceed with that measure if the world’s third-largest economy is not showing signs of improvement. If Japan’s consumption tax is increased it will be the first time since 1997.
Hong Kong’ Hang Seng fell 0.43% while the Shanghai Composite dipped 1.5%. On the mainland, stocks with ties to the Shanghai Free Trade Zone were among the laggards on speculation those stocks have run too far too fast.
The Hang Seng continued to lose ground on new e-commerce giant Alibaba will pursue a listing in the U.S. The company is seeking U.S. law firms to help with an IPO after talks for a Hong Kong listing broke down following management’s proposal to keep control in a share sale, Bloomberg reported.
Australia’s S&P/ASX 200 added 0.2% while New Zealand’s NZSE 50 inched down 0.03%. In U.S. economic news out Wednesday, the Commerce Department said durable goods orders rose 0.1% in August, but slid 8.1% in July after the number for that month was revised lower.
Economists were expecting a 0.5% decrease in August. Excluding transportation, durable goods orders fell 0.1% last month, below the 1% increase economists forecast.
Separately, the Commerce Department said new home sales rose 7.9% last month to a seasonally adjusted rate of 421,000. On a year-over-year basis, that is a 12.6% increase. Economists expected an August reading of 425,000 units. Sales of new homes rose in all regions except the West.
South Korea’s Kospi rose 0.29% even after the Bank of Korea said consumer confidence there fell to 102 in August from 105 in July. Economists expected an August reading of 105.
Singapore’s Straits Times Index added 0.66%. S&P 500 futures rose 0.14% a day after the benchmark U.S. index settled lower for a fifth consecutive day.