Profit-taking pushes record hunt on Asian exchanges

Singapore Investors on the Asian stock exchanges largely held back on Thursday. Many buyers wanted to wait for the upcoming reporting season, others took advantage of the highs of the past few days to cash in. Analysts remained cautious as the new mutations of the coronavirus continued to spread worldwide.

“Despite the recent positive developments in vaccines, the global economic outlook remains uncertain,” said the currency analyst Commonwealth Bank of Australia, Carol Kong. Investors would therefore wait for the trillion dollar US stimulus package that is to be passed before the end of March.

The Nikkei index, which comprises 225 values, was 0.3 percent lower at 30,216 points. The broader Topix index fell 1.1 percent and stood at 1941 points. The Shanghai Stock Exchange was up 0.4 percent. The index of the most important companies in Shanghai and Shenzen lost 0.8 percent. The MSCI index for Asian stocks outside of Japan rose 0.3 percent.

In Asian foreign exchange trading, the dollar was almost unchanged at 105.84 yen, down 0.1 percent to 6.4505 yuan. In relation to the Swiss currency it was quoted hardly changed at 0.8989 francs. At the same time, the euro remained almost unchanged at 1.2037 dollars and was barely changed at 1.0821 francs. The pound sterling stagnated at $ 1.3848.

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