Asian Markets have a mixed showing on Tuesday

Asian Markets have a mixed showing on Tuesday
by, Mike King, Bullish University

Asian markets were relatively mixed this morning with little volatility. Shares of Hong Kong listed Evergrande Group surged higher thanks to plans for a spin-off on the Shenzhen market. Binary options traders are likely to have a quiet day today.

In Japan, their headline stock bourse, was up a mere 0.6 percent and shares in Hong Kong, on the Hang Seng Index fell 0.2 percent. Offering a relatively flat strategy for binary options trading. Shares of China’s Evergrande Group surged 8.9 percent on the Hong Kong market after plans to spin-off most of their property assets and list them on the Shenzhen Stock Exchange crossed the newswires. The company said it would be the controlling shareholder of Shenzhen Real Estate, after the state-backed Shenzhen property developer issued new shares.

This morning, the Reserve Bank of Australia (RBA), as expected, held its monetary policy and main cash rad steady at 1.5 percent. The RBA said that they would assess previous cuts in August and May of next year.

After the monetary policy decision by the RBA, the headline stock bourse barely budged, which meant that binary options strategy did not have to change. The headline bourse in The Down Under was down about 0.1 percent in the early afternoon (Hong Kong (HK) time). The materials sub-index pared early losses to rise 0.3 percent and the energy sub-index was up 0.7 percent.

In corporate news, out of Australia, gaming developer Aristocrat Leisure jumped over 1.6 percent after reaching a cross-license agreement with US based International Game Technology. Shares of Aristocrat Leisure are trading at a nine year high as binary options strategy is changing a bit.

The South Korean benchmark, the Kospi Composite Index was also up a fraction on the day. Make up and cosmetic companies go a boost when China announced they would remove a consumption tax on non-luxury cosmetic products. In turn, they would adjust the luxury cosmetic tax from 15 to 40 percent. This goes into effect, retroactively to October 1. The news helped to boost South Korea larges cosmetic companies like Amorpacific and LG Household & Healthcare. Shares of Cosmax were also boosted as they plan to open a factory in China. This will help boost share on the South Korean stock exchange, changing binary options strategy.

In other corporate news, out of South Korea, Samsung Group’s bio pharm manufacturing unit, BioLogics, is planning an initial public offering that should raise $2.04 billion.

Turning our attention to the Reserve Bank of India, the bank is set to announce its first monetary policy decision on new bank Governor Urjit Patel. The new governor is expected to act on the side of caution and keep rates as is. However, there is a high risk of a substantial increase of capital inflows into India that could trigger a cut if he tries to be too forward-looking. Binary options traders who trade the Indian Rupee will have to play close attention to this news. With that said, he is likely to keep the main cash rate at 6.5 percent today.

Looking at the GBP/USD, this Forex market has moved to a new 31 year low this morning and in afternoon trade yesterday. Theresa May, the prime minister of the United Kingdom, said that Article 50 is set to happen by March of 2017. The GBP/USD was trading at $1.2830 by noon Hong Kong time as binary options traders are looking at a near-term bearish strategy for this market.

There is now a clearer time table for the United Kingdom’s final divorce from the European Union. They are planning for a two year round of negotiations to leave the Eurozone. Binary options traders should carefully asses what this means when it applies to the British Pound and its Forex crosses. The GBP/USD has near term support lining up near 1.28 this morning as European markets get set to open.

 

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