Asian market makes a mixed closing before ECB meeting

Asian markets on Thursday made a mixed closing as investors remained on sideline and booked some profits ahead of the European Central Bank’s meet expecting an interest rate cut. There was no cue from the US markets as it remained closed due to Independence Day holiday. Investors were keeping their finger crossed looking down upon the European Central Bank meeting today for a possible announcement $78 billion of fresh fund from the Bank of England. The Euro was at par with dollar in a cautious trade.

Nikkei slide on Thursday as traders perceived that the market which has rallied for month has touched resistance at the 75 day moving average and was weakening now. Reconstruction stocks performed better today with construction machine maker Komatsu Ltd rising 3.5 percent and Daiki Ataka Engineering Co Ltd soaring 2.3 percent. Shanghai Composite ended lower as investors were risk averse. Hang Seng Index fell due to low trade on Thursday from seven week high on fear of weakness in Chinese Domestic benchmark.