Asian indexes retreated waiting for important news from China and USA

Asia indexThe leading Asian stock markets recorded a retreat on Thursday. Decline in shares of auto giant Toyota Motor was a major contribution to the decline in Tokyo, while in Sydney applied pressure declines in the banking sector. The benchmark Nikkei 225 stock average fell 0.8%, although the JPY remained relatively stable at a level of 98.64 per USD. The market capitalization of Toyota Motor Corp fell 1.3%, though the carmaker reported a net profit of 438.43 billion JPY (4.45 billion USD) in the three months to the end of September. A year earlier, the company posted a profit of 257.92 billion JPY. The financial statements of Toyota came just a day after shares of Nissan Motor Co fell 10% after cutting profit forecast for the fiscal year. Results of Honda Motor Co a week ago also failed to meet expectations.
The Australian Index S&P/ASX 200 lost 0.2%, considering the sharp declines in some of the largest banks in the country. The shares of Australia & New Zealand Banking Group and National Australia Bank fell by 4.2% and 3.4%, since lenders have announced plans not to pay their last dividend. On the opposite side was the Commonwealth Bank of Australia, whose market capitalization has increased by 1.7% after JPMorgan raised the assessment of the bank to the level of “buy”.
The Australian currency dropped to 0.9487 USD in late trading after the latest economic data from the country showed an increase of only 1 100 jobs in October. The expectations of the experts were to rise by about 7500. The unemployment rate remained unchanged even at a level of 5.7%. Overall the region’s exchanges retreated as investors remained cautious ahead of expected later in the week milestone.
On Friday, the US is expected monthly report on the labor market. The document is regarded as one of the main indicators of whether the Federal Reserve will take thinning incentives in December – a move which many betting experts. Over the weekend, even in China will start the Third Plenum of the Communist Party, during which the new leadership in the face of President Li Keqiang will present a plan for economic development in the next ten years.
The Hong Kong’s Hang Seng index fell 0.7%, while the Shanghai Composite lost 0.5%.
The shares of Lenovo Group rose 2.1% after the Chinese maker of personal computers surged quarterly net profit by 36% yoy. South Korea’s Kospi closed with a decline of 0.5% and Singapore’s Straits Times fell 0.2%.

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