Asian Markets fall lower in Morning Trade

Asian Markets fall lower in Morning Trade
by, Staff, Bullish University

This morning, in the Asian and Pacific Rim stock and financial markets, binary options traders saw stocks get off to a weak foot. The region took a large hit when reports surfaced that China was detaining staff members from one of Australia’s largest casino companies, Crown Resorts.

Shares of the company, Crown Resorts, fell almost fourteen percent to AUD$11.15 per share after the company reported to regulators that 18 of its staff, including the vice president of international operations, Jason O’Connor were being detained by Chinese authorities. The company is working with the Australian Foreign Ministry and trade authority to make contact with them. Shares of Star Entertainment, a rival, fell 3.6 percent on the da. Shares of Hong Kong listed gaming companies, like Wynn Macau were lower this morning. Other companies like Sands China and Melco International, whose shares were down over seven percent, were also affected by the news. This caused binary options strategy to shift.

In the Down Under, the headline stock exchange, the S&P ASX 200 lost over 45 points to close at 5,388.70. Most of the exchanges sub-sectors were in the red, with the heavily weighted financials sector down 0.27 percent. It had been up 0.5 percent earlier on. The energy sub-sector was down over 0.8 percent as the price of crude oil moved lower during the Asian trading session.

Binary options traders also saw shares on the South Korean Kospi Index fell 4.95 points to close at 2,027.61. Shares of Samsung Electronics rose 0.82 percent, erasing early losses of 1.30 percent. Last week the embattled electronics company halting production and sales of its Galaxy 7 Note flagship device after a number of fires thanks to battery problems. This will cost the company more than $5 billion in operating profit losses for the fourth quarter.

In Hong Kong, the Hang Seng Index lost 0.9 percent by 3:20 HK time. Chinese stock bourses were also lower on the day. The Shanghai Composite lost over 22 points and the smaller Shenzhen Composite Index lost nearly twenty points today.

There is data coming out of China this week that will impact binary options trading strategy. The world’s second largest economy (China), will release its third quarter (Q3) gross domestic product (GDP). China will also report housing prices, industrial production data, retail sales and fixed asset investment. All of which will impact binary options trading strategy for the entire Asian and Pacific Rim this week.

In Japan, the stock markets were mostly higher today. The headline Nikkei 225 rose over 43 points to close above the key technical level of 16,900 at 16,900.12. Asian shares benefited from a weaker yen. The Japanese yen trade at 104.04 against the US Dollar at 3:20 HK time. The yen had been trading at 103.80 last week.

Shares of Japan’s major exporters were mostly higher on the day. Shares of Toyota Motor were up 0.62 percent. Shares of Nissan Motor rose 0.22 percent while shares of Mitsubishi Electric tacked on over two percent. Shares of Sony were down by 0.38 percent this morning.

Binary options traders should note that Japanese companies like a weaker yen as it tends to increase overseas profits when these companies convert the sales back into the local currency (the yen).

Other major averages in Singapore, India and Thailand all traded lower this morning to kick off the start of the week.

 

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