Back
15 Aug 2013
Stocks recap - Slackers in Asia?
FXstreet.com (Chicago) – Markets reveal mixed attitudes towards Asian stocks on Thursday afternoon in the region. The emphasis seems to remain on the rotation of capital flows and risk hedging amid speculations about the American economic recovery and the Fed's monetary stimulus decision.
"The whole story in Asia is one of rotation," says John Woods, head of Asia fixed income at Citi Investment Management, to then add: "What we are seeing in terms of flows is a sharp unwind of Southeast Asia and capital inflows into North Asia, particularly Korea and Taiwan."
Stock averages in Asia indicate the Nikkei 225 is down 1.76%, the Hang Seng prints 0.13% gains despite late opening due to a typhoon alarm that held markets closed in the morning. The Shanghai Composite is up 0.05%. In Australia, the ASX All Ordinaries losses 0.12% along a Taiwan TSEC 50 Index slacking to accumulate 0.60% losses so far.
"The whole story in Asia is one of rotation," says John Woods, head of Asia fixed income at Citi Investment Management, to then add: "What we are seeing in terms of flows is a sharp unwind of Southeast Asia and capital inflows into North Asia, particularly Korea and Taiwan."
Stock averages in Asia indicate the Nikkei 225 is down 1.76%, the Hang Seng prints 0.13% gains despite late opening due to a typhoon alarm that held markets closed in the morning. The Shanghai Composite is up 0.05%. In Australia, the ASX All Ordinaries losses 0.12% along a Taiwan TSEC 50 Index slacking to accumulate 0.60% losses so far.