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Asian Market Update

Friday, 20 March 2015


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Asian markets mostly retreated on Friday as investors took their cash off the table after the previous day's rally that was fuelled by the Federal Reserve's dovish interest rate outlook.

The dollar was slightly lower against the euro and yen, but analysts said they expect the currency to resume its advance as the Fed prepares for a rate hike while the Japanese and European central banks print more cash.

Providing support to the euro on Friday was news that Greece has agreed to give creditors a new list of reforms within days in order to secure bailout funds.

Tokyo dipped 0.17 per cent, Hong Kong lost 0.21 per cent and Seoul gave back 0.21 per cent, while Sydney was flat but Shanghai gained 0.17 per cent.

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