Asia trades mixed, with Nikkei off 0.5% and Kospi up 0.5%

Asia markets were mixed Wednesday morning, following a higher finish in US equities overnight after remarks from Federal Reserve chair Janet Yellen appeared dovish enough to assuage concerns about a near-term interest rate hike.

Japan’s Nikkei 225 was off by 0.51 percent immediately after market open, while across the Korean Strait, the Kospi was up 0.49 percent.

The Japanese yen strengthened against the dollar, with the dollar/yen pair trading down 0.2 percent at 112.46, compared with levels above 113 earlier in the week. Major exporters were lower, with Toyota off 1.64 percent, Nissan off 2.27 percent and Honda down 1.48 percent. A stronger yen is a negative for exporters as it lowers the value of their repatriated profits and makes their products less competitive overseas.

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Posted in: Indian Market Tips