Asian stocks are mixed today, with the Nikkei turning into the red after earlier gains of 0.6% this morning. The ASX200 is up 0.6% and the Kospi is up 0.8%. The strong Yen, once again seems to be keeping investors away from export stocks, and equity financing concerns at MUFJ dragged on financials. Seems risk money might be flowing into emerging markets such as Brazil and India, rather than Japanese stocks. The direction of the Nikkei may also influence Yen crosses this afternoon. Any further weakness on the Nikkei may slip over into the Yen crosses.
In Australia the miners and gold stocks are leading the way. BHP up 1.3%, NCM up 2.4% and Lihir gold up 3% as gold hits another record high.
