Toyota Motor, the world’s biggest automaker, did not reach an immediate agreement with its union over demands for hefty pay hikes on Wednesday but will continue talks in coming days, raising doubts about current expectations for wage talks.
Most Asian currencies rose on Wednesday, seeing some relief as the dollar retreated in anticipation of more cues from the Federal Reserve on the path of interest rates.
Gold prices rose in Asian trade on Wednesday, extending a recent rebound as the dollar retreated in anticipation of more cues on U.S. interest rates, most notably from the minutes of the Federal Reserve’s late-January meeting.
Canaccord Genuity started research coverage on Galaxy Digital (BRPHF) with a Buy rating and a one-year price target of C$17, implying an upside of more than 28% from the last closing price.
The best performers of the session on the S&P/ASX 200 were CSR Ltd (ASX:CSR), which rose 17.43% or 1.18 points to trade at 7.95 at the close. Meanwhile, Codan Ltd (ASX:CDA) added 15.71% or 1.32 points to end at 9.72 and Wisetech Global Ltd (ASX:WTC) was up 10.82% or 8.64 points to 88.49 in late trade.
Asian shares were pinned below 1-1/2 month highs on Tuesday as even a larger-than-expected interest rate cut in China failed to excite investors jaded at the lack of bigger stimulus measures.
The dollar inched higher on Monday after rising for the fifth week straight on the back of strong inflation data, while the yen traded near the psychologically important 150 level.
Most Asian currencies crept lower on Tuesday amid persistent concerns over a slowing Chinese economic recovery and higher-for-longer U.S. interest rates, while the dollar edged up and remained near three-month highs.
Gold prices kept to a tight range in Asian trade on Tuesday amid persistent concerns over higher-for-longer interest rates, while a U.S. market holiday also made for scant immediate trading cues.
The best performers of the session on the S&P/ASX 200 were Appen Ltd (ASX:APX), which rose 15.71% or 0.06 points to trade at 0.41 at the close. Meanwhile, Nuix Ltd (ASX:NXL) added 13.08% or 0.22 points to end at 1.95 and ARB Corporation Ltd (ASX:ARB) was up 9.87% or 3.53 points to 39.30 in late trade.
