Asian stocks mixed after US markets close on June 16 - ExBulletin

Source: ExBulletin

HONG KONG (AP) Asian stocks were mixed Thursday after U.S. markets closed for Juneteenth.

Hong Kong's Hang Seng fell 0.8% to 18,280.67. The Hang Seng technology index fell 1.7%, after jumping 3.7% on Wednesday, following Nvidia's progress. The Shanghai Composite index fell 0.4% to 3,005.44.

The Chinese yuan was trading at its lowest level this year, with the central parity rate pegged at 7.1192 yuan to the U.S. dollar, according to China's foreign exchange system.

The central parity rate is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

China's central bank on Thursday maintained its one-year benchmark rate at 3.45% and its five-year prime rate at 3.95%. The prime rate for one-year loans serves as the benchmark for the majority of business and household loans, while the five-year rate is used as the benchmark for home mortgages.

Meanwhile, Chinese markets were digesting comments from People's Bank of China Governor Pan Gongsheng, who told a financial forum in Shanghai that China would maintain its accommodative monetary policies to support the economy.

In Sydney, the S&P/ASX 200 index was little changed at 7,769.40. South Korea's Kospi added 0.4% to 2,807.63.

Elsewhere, Taiwan's Taiex gained 0.9%, while Bangkok's SET fell 0.4%.

On Wednesday, European stock markets were mostly down. In London, the FTSE 100 gained 0.2% to 8,205.11 after data showed that British inflation fell to the central bank's 2% target for the first time in almost three years. This data also supports market expectations that the Bank of England would maintain its key rate at 5.25% for the time being.

Germany's DAX slipped 0.4% to 18,067.91, while the CAC 40 in Paris fell 0.8% to 7,570.20.

US markets reopen on Thursday. On Tuesday, the S&P 500 added 0.3% to 5,487.03, setting an all-time high for the 31st time this year. The Nasdaq Composite Index edged up less than 0.1% to 17,862.23. The Dow Jones Industrial Average gained 0.2% to 38,834.86.

Nvidia was the star once again, gaining 3.5% and acting as the most powerful force pushing the S&P 500 higher. This once again took its total market value above $3 trillion.

In other trading Thursday morning, U.S. benchmark crude oil fell 6 cents to $80.58 a barrel in electronic trading on the New York Mercantile Exchange.

Brent crude added 11 cents to $85.18 a barrel.

The dollar fell from 158.10 Japanese yen to 158.13 yen. The euro rose from $1.0745 to $1.0732.