Asian Open ISM Eases Fed Hints at Early Taper RBA Up Next
ISM manufacturing data tracked China’s PMI lower in July, although it remains at a relatively higher level both historically and compared to China’s manufacturing PMI.
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The Nikkei is pushing towards a new five-year high this morning (April 25th), but the index has been affected by drops in the share price of big hitters like Canon and Nintendo.
Canon's share price has fallen by five per cent already today, while stocks in Nintendo are down after the video games company failed to meet investors' expectations of strong earnings guidance.
The Nikkei added 0.2 per cent to 13,869.92, according to a report by Reuters, after trading as high as 13,906.76, a new five-year high, over the course of the morning session.
A sales trader at a Japanese brokerage house told the news provider that yen FX weakness is helping the Nikkei, which rose by 2.3 per cent in yesterday's trading.
Toyota Motor Corp, Honda Motor Co, TDK Corp and Suzuki Motor Corp are among the companies to be up on the Nikkei this morning.
It's been a good week for the Nikkei so far, as the index closed at its highest point since June 2008 on Tuesday.
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