Markets in Asia started the day in the red zone; Subaru rose by 1.59%

Almost all of the indices in Asia were traded below the flat line on Tuesday’s opening session. Japanese benchmark Nikkei 225 index inched down by 0.1 percent in early trade. The Kospi index in South Korea was also marginally lower by 0.07 percent. The Aussie benchmark ASX 200 index dropped as low as 0.54 percent due to the poor performance from its financial and technology sector.

Looking at individual stocks, Japanese conglomerate Subaru added more than 1.59 percent in shares after it released a statement that the company was expecting a 5 percent increase in their sales abroad this 2018. Meanwhile, Honda slipped by 0.28 percent and Toyota jumped by 0.22 percent. South Korean tech companies, Samsung electronics and its rival chipmaker SK Hynix were both at the peak of the benchmark as they rose by 0.95 percent and 0.83 percent respectively. Australian-British mining company Rio Tinto was 1.1 percent higher in shares, following the release of its fourth-quarter earnings report which came in better than expected. Shipments of iron ore surged by 3 percent compared last 2017.

The euro weakened after a long rally

The euro was slightly down on Tuesday. The common currency caught its breath after a long rally amid expectations that ECB would trim its massive bond portfolio. The euro traded below the flat line by 0.1 percent to $1.2253 after departing from its best level since December 2014 of $1.2296 notched on the previous day.

The ECB’s rate-setter and chief of Estonian central bank, Ardo Hansson, was quoted saying in a German newspaper that the ECB might close its euro bond purchasing scheme worth more than 2.55 trillion after September.

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