1 week Ago By Reuters
By Jamie McGeever (Reuters) - A look at the day ahead in Asian markets. Asian markets are set for a sluggish open on Thursday, with mixed U.S.
corporate earnings, a firm dollar , and an upward drift in U.S. bond yields dampening investors' appetite for risky assets.
The Japanese yen is back in the spotlight, its latest bout of weakness prompting warnings from Tokyo on Wednesday that, so far at least, seem to have gone unheeded. The dollar is on the front foot and gunning for 156.00 yen.
There are a few potential market-moving economic indicators and events on Thursday for investors to get their teeth into, including Chinese trade data, a monetary policy decision from Malaysia, and first quarter GDP figures from the Philippines. Asian markets won't get much steer from Wall Street, which ended mixed on Wednesday. One source of relief may be oil - Brent crude printed a two-month low below $82 a barrel, and although inflation worries are running high, oil is down around 10% in recent weeks.
Japan's financial heavy hitters were out on Wednesday warning that the yen's weakness could trigger action from policymakers. Bank of Japan Governor Kazuo Ueda said the central bank could raise rates again, and Finance Minister Shunichi Suzuki voiced "strong concern" over the negative impact of a weak yen and repeated Tokyo's readiness to intervene in the FX market. The warnings have had no effect and the dollar was changing hands at 155.
50 yen late on Wednesday, up on the day and back to wher.
