Asian stocks have opened mixed

Alexandre Loureiro/Getty Images for adidas

Asian stocks, with the exception of Australia’s ASX 200, are trading higher in early Tuesday trade.

Having fallen by a similar margin on Monday, the Nikkei 225 in Japan is up by 1.87% while the KOSPI in South Korea has added 0.37%.

In Australia, following Malcolm Turnbull replacing incumbent Prime Minister Tony Abbott in a late night leadership coup, the market is trading lower by 0.33%. Whether this is due to the heightened levels of political instability or nervousness before the US FOMC rate decision later in the week is as yet unclear.

Reflective of the regional trend, US S&P 500 futures currently sit up 0.26%.

In currency markets the Australian dollar is outperforming, adding a further 0.24% to 0.7152. At 11.30 am the RBA will release the minutes of its September monetary policy meeting, with many speculating that the tone may be more hawkish than what was portrayed in its September monetary policy statement.

Helping to underpin Japanese stocks, the USD/JPY has also risen by 0.32% to 120.61. Later today the Bank of Japan will announce its September monetary policy decision, although no change in the level of monthly asset purchases is expected.

Aside from the Aussie and the yen, the moves elsewhere are muted.

In commodity markets crude futures are up by more than 0.5% having fallen heavily again overnight. Precious metals are meandering around the flatline while Dalian iron ore futures sit down 0.86%.

Stocks

  • ASX 200 5079.40 , -17.07 , -0.33%
  • Nikkei 225 18302.18 , 336.48 , 1.87%
  • KOSPI 1938.56 , 7.10 , 0.37%
  • S&P 500 Futures 1959.00 , 5.00 , 0.26%

Forex

  • USD/JPY 120.61 , 0.39 , 0.32%
  • USD/CNY 6.3664 , -0.0071 , -0.11%
  • AUD/USD 0.7152 , 0.0017 , 0.24%
  • NZD/USD 0.6330 , 0.0006 , 0.09%
  • AUD/JPY 86.26 , 0.48 , 0.56%
  • EUR/USD 1.1307 , -0.0011 , -0.10%
  • GBP/USD 1.5426 , 0.0002 , 0.01%
  • USD INDEX 95.346 , 0.1000 , 0.10%

Commodities

  • Gold $1,108.20 , -$0.20 , -0.02%
  • Silver $14.41 , $0.00 , 0.00%
  • WTI Futures $44.29 , $0.29 , 0.66%
  • Iron Ore Futures ¥402.00 , -¥3.50 , -0.86%

10-Year Bond Yields

  • Australia 2.703%
  • New Zealand 3.295%
  • Japan 0.354%
  • Germany 0.658%
  • UK 1.852%
  • US 2.187%

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