Asian stocks posted only minor moves Thursday, as investors took a wait-and-see approach before an expected European Central Bank policy announcement later in the global trading day.
Japan’s Nikkei 225 index gained 11.41 points, or 0.1%, to 15,079.37.
The Hang Seng Index in Hong Kong dipped 42.05 points, or 0.2%, to 23,109.66
The Nikkei is currently on its hottest buying streak of the year, rising in 10 of the last 11 sessions and gaining over 7.3% in the process.
Some traders have suggested Japan’s stock market is poised for a brisk selloff after Prime Minister Shinzo Abe makes his latest growth strategy announcement in the coming days, noting that volume doesn’t indicate overwhelming long-term investor support.
The U.S. dollar was also slightly weaker against the yen than its prior day afternoon levels, trading at ¥102.52. The euro was also slightly weaker, at ¥139.50.
CHINA
The Shanghai CSI 300 regained 22.33 points, or 1.1%, to 2,150.60
HSBC China May Services PMI data, published during the Asia morning trading session, came in at 50.7, somewhat lower than April’s 51.4, but didn’t appear to have a meaningful impact on markets.
In other markets;
Singapore’s Straits Times Index gave back 0.53 points to 3,279.64
Korea’s Kospi index returned from holiday to lose 13.08 points, or 0.7%, to 1,995.48
In Taiwan, the Taiex index recovered 20.76 points, or 0.2%, to 9,140.72
In New Zealand, the NZX 50 eked up 0.14 points to 5,159.49
Australia’s S&P/ASX 200 fell 7.95 points, or 0.2%, to 5,436.88
