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The red figures dominated this Thursday between Asian stock exchanges with the Tokyo Nikkei index holding back a four-day winning series, in a volatile session marked by an investor profit taking and weak consumer businesses that overshadowed the rise in shares of machinery makers and energy companies.
The Nikkei's initial profits evaporated during the afternoon and the benchmark closed with a drop of 0.1% to 22,764.68 points. This is the first drop in five days, after reaching 22,949.32 points Wednesday, its highest level since June 13.
"The Nikkei's threshold of 23,000 points has become its resistance barrier and when it comes to this point, there is a profit taking," said Yutaka Miura, market analyst at Mizuho Securities.
Actions related to consumer companies, such as cosmetics and diaper manufacturers, lost ground after being traded blue in recent days. Traders have indicated that investors in long positions, such as pension fund managers, have sought to secure profits after recent advances.
In Shanghai, Chinese equities were dragged down by airline stocks, after the yuan depreciated to its lowest level in a year against the dollar as a result of monetary stimulus measures that the bank could take central.
The Chinese stock index preferred CSI300 lost 0.1% to 3 thousand 428.34 points, while the Shanghai Composite Index fell 0.5% to 2 thousand 772.55 points .
China's central bank plans to roll out incentives to increase the liquidity of commercial lenders to help them develop credit and increase investment in bonds issued by cooperatives and other entities, a source said on Wednesday close to the folder.
Optimism about the possible positive impact of these measures has been overshadowed by lingering fears of a depreciation of the yuan, as a more expansionary monetary policy in China could lower rates on the money market, which would make dollar assets more attractive
China Airlines shares, including China Southern, China Eastern and Air China, fell 2.68, 5.34 and 4.86%, with a weaker yuan boosting the cost of debt issued in dollars.
The rest of the markets, like Hong Kong, ended the session with a 0.38% drop in the Hang Seng index, which stood at 28,010.86 units.
For its part, the Seoul stock market lost 0.34%, its Kospi index setting at 2,282.29 units
On the contrary, the Straits Times index of the Singapore Stock Exchange recorded a gain of 1.14%, to 3 thousand 240.50 units. 19659013] On the currency market, the dollar was on up to three weeks, investors taking advantage of gains generated by the US dollar after the chairman of the Federal Reserve, Jerome Powell, supported a strong economic outlook, but was supported by the relative economic strength of the United States.
The US currency traded around 112.80 units against the yen. The dollar hit a six-month high of 113.14 yen on Wednesday.
While the yuan fell to its lowest level in a year against the US dollar, after the central bank set the official trading range below the psychological threshold of 6.7 units per dollar.
With information from Reuters and Notimex.
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