Asia Mixed on Japan Export News
May 20, 2021 at 07:27 AM EDT
Thursday, May 20, 2021 Asia Mixed on Japan Export News Stocks in Asia-Pacific were mixed on Thursday, with data showing Japan’s exports surging in April. In Japan, the Nikkei 225 recovered 53.8 points, or 0.2%, to 28,098.25. Japan’s exports rose 38% in April as compared with a year ago, data from the country’s Ministry of Finance showed Thursday. That was higher than an expected 30.9% increase predicted by economists. The Japanese yen traded at 108.95 per U.S. dollar, weaker than levels below 108.8 against the greenback seen earlier in the week. In Hong Kong, the Hang Seng returned from holiday to drump143.52 points, or 0.5%, to 28,450.29. Australia’s seasonally adjusted unemployment rate declined to 5.5% in April, the country’s Bureau of Statistics said Thursday. That compared against expectations for a 5.6% unemployment rate. The Australian dollar changed hands at $0.7756, weaker than levels above $0.78 seen earlier this week. CHINA In Shanghai, the CSI 300 restocked 14.14 points, or 0.3%, to 5,186.41. China’s benchmark lending rate was kept unchanged in May, with the one-year loan prime rate (LPR) sitting at 3.85%. The five-year LPR was also held steady at 4.65%. That was in line with expectations of the majority of traders in a snap Reuters poll. In other markets Korean markets were back in business after a day off Wednesday, with the Kospi index losing 10.77 points, or 0.4%, to 3,162.28 In Singapore, the Straits Times index moved up again 5.6 points, or 0.2%, to 3,109.81. In Taiwan, the Taiex index dropped 90.3 points, or 0.6%, to 16,042.36 In New Zealand the NZX 50 jumped 155.67 points, or 1.3%, to 12,437.17 In Australia, the ASX 200 gained 87.9 points, or 1.3%, to 7,019.56.