What's Affecting Markets Today
Asian markets mixed
Asia-Pacific markets showed mixed performance on Wednesday as investors awaited the Bank of Japan’s rate decision and evaluated China’s business activity data. The Bank of Japan is anticipated to raise rates to 0.1%, with some analysts predicting a larger hike. If raised, it will be the first time since 2010 that the rate exceeds 0.1%.
China’s factory activity contracted slightly in July, with the manufacturing PMI at 49.4, down from 49.5 in June but above the Reuters forecast of 49.3.
Japan’s Nikkei 225 fell 0.94% ahead of the BOJ decision, and the Topix declined 0.4%. Retail sales in Japan increased by 3.7% year-on-year in June, surpassing the expected 3.2% rise.
South Korea’s Kospi rose 0.17%, boosted by Samsung Electronics’ 1,458.2% year-on-year increase in Q2 operating profit. The Kosdaq remained nearly flat.
Hong Kong’s Hang Seng index gained 0.42%, while the mainland Chinese CSI 300 edged slightly lower.
Additionally, China’s securities regulatory commission replaced vice chairman Fang Xinghai with Li Ming, citing Fang’s retirement.
ASX Stocks
ASX 200 - 8,071.4 (+1.5%)
Key Highlights:
Leaders
VUL Vulcan Energy Resources Ltd (+7.57%)
DYL Deep Yellow Ltd (+5.53%)
CRN Coronado Global Resources Inc (+4.98%)
NIC Nickel Industries Ltd (+4.66%)
TNE Technology One Ltd (+4.65%)
Laggards
RDX Redox Ltd (-3.69%)
GOR Gold Road Resources Ltd (-3.36%)
CU6 Clarity Pharmaceuticals Ltd (-3.14%)
TLX Telix Pharmaceuticals Ltd (-2.80%)
CCP Credit Corp Group Ltd (-2.17%)
