On Thursday, stocks in Asia traded mostly flat because market participants braced for Britain’s upcoming vote on its membership in the EU.
The Nikkei Stock Average gained 0.5%, Australian S&P/ASX 200 acquired 0.2%, while the Hang Seng Index grew 0.4%. Meanwhile, the Shanghai Composite Index edged down 0.4%, Korean Kospi decreased 0.5%.
Fund managers as well as traders say they expect voters in Great Britain to decide that their country should stay in the European Union, potentially causing a tiny relief surge in currencies as well as stock markets around the globe by Friday morning. However, traders point out they’ll be monitoring for how close the vote is. Traders are preparing for probable surprises in the financial markets. Obviously, a leave vote is supposed to send the British pound as well as the common currency down with devastating effects across global asset classes.
Surveys are going to close at 10 p.m. London time, and the outcome is expected to arise during the hours after.