Asian stocks were seen falling from a six-year high on the last day of the trading week. Equities in the US were slightly lifted after data showed that the US initial jobless claims came in at 312,000 in the week ending June 14, compared to the previous figure of 318,000 and analysts forecasts of 313,000 claims.
The Japanese benchmark Nikkei 225 index rose 0.03% to 15,365.77 points, while Tokyo’s Topix index added 0.09% to 1,270.14 points.
The nation’s yen slightly strengthened against the US dollar to 101.9 yen on Friday. In stocks, motoring companies saw major gains during the session, with Isuzu Motor adding 2.7%, Nissan edged 1.4% higher, while Mazda Motor slipped 1.2% lower.
Hong Kong’s Hang Seng index rose 0.16% to 23,204.57 points, while the Chinese benchmark Shanghai Composite slid 0.45% to 2,014.69 points at the time of writing. China’s biggest gold miner, Zijin Mining advanced 3.5% to HK$1.76 in Hong Kong.
The South Korean Kospi index fell 0.94% to 1,973.21 points, while Australia’s benchmark S&P/ASX 200 index edged 0.43% lower at 5,446.00 points. In Sydney, Newcrest Mining gained 4% to A$10.81, while ANZ and National Australia Bank fell 0.6% lower.
Stocks – Europe
Stocks in the European region were seen little changed on Friday after comments made by the Federal Reserve Chair Janet Yellen suggesting interest rates will remain low.
The European Euro Stoxx 50 slid 0.11% lower to 3,311.27 at the time of writing, while the German DAX gained 0.02% to 10,005.42. The French CAC 40 fell 0.6%, trading at 4,560.23, while UK’s benchmark FTSE climbed 0.28% to 6,827.11.
Economic Data
Germany’s producer prices for May slid 0.2% month-on-month and fell by 0.8% on a yearly basis, data from the German Federal Statistical Office revealed.
Meanwhile, the current account for the eurozone for April posted a surplus of 21.5 billion euros from 19.6 billion euros recorded in March, measured on a seasonally adjusted basis.
Fed Comments
The Federal Open Market Committee concluded its two-day policy meeting by continuing to trim its bond purchasing, cutting its asset purchases by a further $10 billion to $35 billion as predicted by analysts, while the main interest rate remained unchanged between 0% and 25%. “The committee will likely reduce the pace of asset purchases in further measured steps at future meetings,” policy makers said in a statement.
Fed Policymakers projected that the interest rate target in the US will be 1.13% by 2015 end and 2.5% in 2016. The Fed lowered its economic growth forecast for this year, estimating the economic growth between 2.1% to 2.3%, compared to 2.8% to 3% forecasted in March. The unemployment rate is expected to come in at 6% to 6.1% at the year end, from 6.1% to 6.3% estimated in March.
Fed Chair Janet Yellen said the climb in properties, equity prices, monetary policy and the improved global economy should boost the US economy, the world’s largest economy.
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Stocks – Asia
Asian stocks were seen falling from a six-year high on the last day of the trading week. Equities in the US were slightly lifted after data showed that the US initial jobless claims came in at 312,000 in the week ending June 14, compared to the previous figure of 318,000 and analysts forecasts of 313,000 claims.
The Japanese benchmark Nikkei 225 index rose 0.03% to 15,365.77 points, while Tokyo’s Topix index added 0.09% to 1,270.14 points.
The nation’s yen slightly strengthened against the US dollar to 101.9 yen on Friday. In stocks, motoring companies saw major gains during the session, with Isuzu Motor adding 2.7%, Nissan edged 1.4% higher, while Mazda Motor slipped 1.2% lower.
Hong Kong’s Hang Seng index rose 0.16% to 23,204.57 points, while the Chinese benchmark Shanghai Composite slid 0.45% to 2,014.69 points at the time of writing. China’s biggest gold miner, Zijin Mining advanced 3.5% to HK$1.76 in Hong Kong.
The South Korean Kospi index fell 0.94% to 1,973.21 points, while Australia’s benchmark S&P/ASX 200 index edged 0.43% lower at 5,446.00 points. In Sydney, Newcrest Mining gained 4% to A$10.81, while ANZ and National Australia Bank fell 0.6% lower.
Stocks – Europe
Stocks in the European region were seen little changed on Friday after comments made by the Federal Reserve Chair Janet Yellen suggesting interest rates will remain low.
The European Euro Stoxx 50 slid 0.11% lower to 3,311.27 at the time of writing, while the German DAX gained 0.02% to 10,005.42. The French CAC 40 fell 0.6%, trading at 4,560.23, while UK’s benchmark FTSE climbed 0.28% to 6,827.11.
Economic Data
Germany’s producer prices for May slid 0.2% month-on-month and fell by 0.8% on a yearly basis, data from the German Federal Statistical Office revealed.
Meanwhile, the current account for the eurozone for April posted a surplus of 21.5 billion euros from 19.6 billion euros recorded in March, measured on a seasonally adjusted basis.
Fed Comments
The Federal Open Market Committee concluded its two-day policy meeting by continuing to trim its bond purchasing, cutting its asset purchases by a further $10 billion to $35 billion as predicted by analysts, while the main interest rate remained unchanged between 0% and 25%. “The committee will likely reduce the pace of asset purchases in further measured steps at future meetings,” policy makers said in a statement.
Fed Policymakers projected that the interest rate target in the US will be 1.13% by 2015 end and 2.5% in 2016. The Fed lowered its economic growth forecast for this year, estimating the economic growth between 2.1% to 2.3%, compared to 2.8% to 3% forecasted in March. The unemployment rate is expected to come in at 6% to 6.1% at the year end, from 6.1% to 6.3% estimated in March.
Fed Chair Janet Yellen said the climb in properties, equity prices, monetary policy and the improved global economy should boost the US economy, the world’s largest economy.
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