Nikkei 225 closes lower by 0.23% at 21,416.79

Author: Justin Low | Category: News

Asian equities take a cue from Wall St on Friday

Nikkei 22-07
The decline comes after decent gains at the end of last week and is reflective of reduced bets that the Fed will be more aggressive in cutting rates at the end of this month.

A 50 bps rate cut is slowly being phased out and that's seen in the performance among Asian equities today. The Hang Seng is down by 0.8%, a similar decline seen in the Shanghai Composite index as well.

Treasuries and US futures are more flat though, so that is likely to translate over to European equities and the risk mood to start the morning. USD/JPY holds higher despite that on early flows at the Tokyo fix, with price sitting near 108.00 still.

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