Asian Markets Mixed, Austria’s Economy Grows Higher than Expected in Q12020
Shares in Asia-Pacific were mixed on Wednesday, with official data showing higher-than-expected growth in Australia’s economy for the first quarter.
The Nikkei 225 in Japan gained 0.46% to close at 28,946.14 while the Topix index climbed 0.84% to finish the trading day at 1,942.33. In South Korea, the Kospi closed nearly 0.1% higher at 3,224.23.
Meanwhile, Australian stocks advanced, with the S&P/ASX 200 closing 1.05% higher at 7,217.80.
MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.35%.
Incorporate developments, shares of Japan’s Toyota rose 2.18% and while Honda soared by 4.55%. The gains came despite reports that the automakers have temporarily suspended production in Malaysia due to the country’s lockdown, which started Tuesday.
Other Japanese automakers also saw gains, with Mazda jumping 4.46% while Mitsubishi Motors rose 3.23%.
“With 1.8% growth in the March quarter 2021, Australian economic activity has recovered to be above pre-pandemic levels and has grown 1.1% through the year,” Michael Smedes, Head of National Accounts, Australian Bureau of Statistics.
Following the data release, the Australian dollar changed hands at $0.7734, still stronger than levels below $0.772 seen earlier this week.
Asian Markets Currencies and oil
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 89.987 following an earlier low of 89.857.
The Japanese yen traded at 109.76 per dollar, stronger than levels around 109.6 seen against the greenback yesterday.
Oil prices were higher in the afternoon of Asia trading hours, with international benchmark Brent crude futures up 0.77% to $70.79 per barrel. U.S. crude futures advanced 0.62% to $68.14 per barrel.