Asia mkts mostly lower; Kospi steady despite surprise rate cut

Asia markets traded mostly lower on Thursday, as a weaker dollar weighed on Japan’s shares and South Korean stocks failed to get a boost from a surprise interest rate cut.
The Bank of Korea surprised markets by cutting its policy rate by 25 basis points to a record-low of 1.25 percent. A Reuters poll of analysts showed markets expected the central bank to keep rates steady at 1.5 percent.
South Korean stocks had a muted reaction to the decision, with the benchmark Kospi trading as high as 2,033.46 after the decision, compared with around 2,030 before the announcement. The index was up 0.17 percent at 2030.45 at 9:34 a.m. HK/SIN.
In Japan, the Nikkei 225 snapped two consecutive sessions of gains, falling 0.82 percent, as dollar weakness pushed up the yen and put stocks under pressure. The yen traded at 106.61 against the dollar as of 9:20 a.m. HK/SIN, dropping from levels near 107.80 earlier in the week.


Real Time News & Trading Trends Keep Liking Epic Research Private Limited

Facebook – Twitter – YouTube – Pinterest –Linkedin - Google+

For more information ✆ – 0731-6642300 or Visit http://www.epicresearch.co

Follow @Epic_Research