TOKYO / LONDON (IT BOLTWISE) – Asian bourses are posting slight losses as markets await an impending flood of data from the US. The Nikkei 225 fell slightly, while Sony and SoftBank surprised with unexpected corporate decisions. Uncertainty about the impact of US data releases is contributing to investor reluctance.
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Asian stock markets took a break on Tuesday after markets had already priced in the end of the US stay-at-home order the day before. Without new stimulus, investors remained cautious, especially in view of the impending release of numerous pent-up US economic data. These could have unexpected effects on the markets, as experts at Deutsche Bank noted.
The Japanese Nikkei 225 index recorded a slight decline of 0.14 percent and closed at just under 50,842.93 points. One reason for the reluctance was weak demand at an auction of long-term government bonds, which sent negative signals from the bond market. At the same time, Sony surprised with a positive profit forecast for the current financial year, supported by a strong second quarter and lower tariff burdens.
SoftBank also made headlines by selling its entire stake in NVIDIA, worth around $5.8 billion. This decision could indicate strategic realignments within the company. Australia’s S&P/ASX 200 index fell 0.19 percent while Chinese markets remained mixed. Hong Kong’s Hang Seng index showed little change, while mainland China’s CSI 300 index fell 0.91 percent.
Uncertainty about the impact of upcoming US data releases is contributing to investor reluctance. Analysts expect the flood of data, delayed by the budget freeze, could provide new insights into the state of the U.S. economy. This could create both opportunities and risks for global markets as investors try to assess the potential impact on their portfolios.
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