I Asian markets grew for the third consecutive day on the back of better-than-expected data for US manufacturing, but many Japanese stocks fell on the announcement of a yen at monthly highs against the US dollar. Convenience-related stocks led the race following the jumps in commodity prices. L'MSCI Asia Pacific index rose 0,2% to 127.35 as of 9:04 am in Tokyo ahead of Hong Kong market opening.
The index had already gained 0,4% yesterday, extending its best quarterly rally since the third quarter of 2010. Bucking the trend, the Nikkei 225 Stock Average fell 0,5 percent. In particular Honda and Toyota they left value on the ground, at a time when analysts fear a downsizing of profits for these two car manufacturers which are particularly exposed to the American market.
Sul currency front, the Australian dollar was at a six-month low against the New Zealand dollar (now considered a safe-haven currency) on the eve of the Australian Federal Reserve meeting. The so-called 'Aussie' also fell against the yen, before the announcement of Chinese data on non-manufacturing industry, amid concerns of a slowdown in the world's second largest economy, as well as Canberra's main export recipient. There Australian currency it fell by 0,1% to 1,2641 against the New Zealand dollar and by 0,3% to 85.30 against the yen.
http://www.bloomberg.com/news/2012-04-03/asian-stocks-gain-as-u-s-manufacturing-beats-estimates.html
http://www.bloomberg.com/news/2012-04-02/aussie-kiwi-dollars-remain-higher-before-u-s-report.html
