Tokyo's main index closes marginally higher in back and forth session
- Session high 22,207.09
- Session low 21,911.42
Asian equities started the day on the back foot following the sluggish performance seen in Wall Street but that changed as Chinese stocks moved higher ahead of the lunch break. Japanese stocks picked up to move up by about 0.8% on the day before giving back those gains now at the close.
This comes as Chinese equities are also paring their earlier gains with the Shanghai Composite now just up by 0.4% after having posted earlier gains of 1.4%. The Hang Seng index is also now near flat levels just up by 0.2%.
In terms of how this translates to the FX space, we're seeing very little action to begin the day as currencies remain tepid in light of the indecisiveness in the equities performance thus far. USD/JPY traded to a high of 112.65 and is just off of that now at 112.55 but a further downturn in E-minis (now trading 0.2% lower) would surely signal a bit more nervous tones in risk sentiment.
