Monday 25 July 2016

Asia Markets Higher; ASX up 0.6%, Nikkei up 0.3%, Kospi Up 0.4%

Asia markets opened higher on Monday, as traders eye key central bank meetings in the US and Japan due later in the week. Australia's ASX 200 was up 0.56 percent in early trade, boosted by a 0.64 percent increase in the heavily-weighted financials sub-index. 

In South Korea, the Kospi was up 0.40 percent. In Japan, the Nikkei 225 gained 0.32 percent, with markets reacting to better-than-expected export data released before market open. Japan's exports for June fell 7.4 percent on-year, the ninth consecutive monthly fall, according to Reuters, but it was a better than the forecast of 11.6 percent drop from a Reuters poll of economists. 

In volume terms, exports rose 2.9 percent in June on-year, the first increase in four months, reported Reuters. Imports fell 18.8 percent on-year, slightly better than the forecast of 19.7 percent decline. The trade balance was at a surplus of 692.8 billion yen, compared with a 494.8 billion yen surplus expected, said Reuters.


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