Strengthening the Financial Sector Sustains Asian stocks

Financial  photoAsian stocks rose at the start of this week as the president’s plan the United States (US) Donald Trump to review the rules in the financial sector. In addition, US stocks rose at the end of last week also affected the Asian markets.

While the US dollar was little changed as the US central bank or the Federal Reserve met sentiment jobs report showed that wage growth weakened.

However, on Friday last week, the US central bank chairman John Williams mengekasn San Francisco, if rising interest rates three times in 2017 is unbelievably reasonable. It affects the US dollar after the jobs report showed wage growth weakened. The statement also strengthens the US central bank will raise rates gradually.
In stock trading earlier this week, the MSCI index of Asia Pacific stocks outside Japan rose 0.3 percent. Strengthening a number of benchmark stock indexes in Asian stocks boosted the financial sector. Japan’s Topix stock index rose 0.7 percent at 9:25 pm Tokyo time. Japan’s stock gains boosted from Mitsubishi UFJ Financial shares jumped 4.3 percent.

Meanwhile, the Australian stock index / ASX 200 and South Korea’s Kospi stock index rose 0.3 percent. So quoting Bloomberg page, Monday (02/06/2017).

On the currency markets, the US dollar index was little changed after the fall of 2.9 percent this year. The US dollar is in the range of 112.55 against the yen. Euro in the range of 1.07 US4.

In the commodity markets, gold prices rose 0.1 percent in the range of US $ 1,221 per ounce. WTI oil price rose 7 cents to US $ 53.90. While the price of Brent oil climbed eight cents to US $ 56.89 per barrel after a 2 percent rally last week.

There are a number of sentiment this week that affect the Asian market include central bank meetings include Australia, India, New Zealand, the Philippines, Thailand and Sri Lanka.

In addition, the earnings season starting from Toyota Motor, NTT, Softbank Group, Rio Tinto, Japan Tobacco, SingTel, Nissan Motor. Additionally, Fuji Heavy, Daikin Industries, Mitsubishis Estate and Mitsui and Co. Then China’s trade balance and PMI data. US President Donald Trump will meet with Japanese Prime Minister Shinzo Abe at the White House.