: Asian shares were mixed on Thursday but solid Chinese trade data helped China stocks outperform, while the yen stabilised after three days of decline as Japanese authorities hinted at the potential for currency intervention.
MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.2 per cent but was hovering not far from a 15-month high hit earlier in the week after Fed Chair Jerome Powell reiterated a stance for policy easing later this year. “Considering import demand could remain resilient but exports face a higher level of risk in coming months, we expect a smaller contribution from trade to growth starting in the second quarter.”
The Japanese yen steadied at 155.60 per dollar after falling for three sessions. It rose more than 3 per cent last week with market participants pointing to likely intervention by Japanese authorities twice to stem its fast decline.
Source: News Formal (newsformal.com)
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