Asia Turns Risk-Averse, Tracks China Stocks Lower
A major turnaround in the risk conditions after a negative Chinese open,
weighed dramatically on rest of Asia, with the yen bulls back in form
amid deteriorating risk sentiment. Moreover, oil prices also turned
negative, which also added to the renewed risk-off wave in the markets.
Nikkei defends mild gains as risk-off returns
Meanwhile, the Japanese benchmark index, the Nikkei 225
trades +0.08% versus +0.90% seen earlier, as the USD/JPY pair dropped
sharply from above 109 handle to now trade around 108.60 levels amid
worsening risk environment. Australia’s ASX 200 index now trades +0.41%
to 5,370 points, paring gains amid risk-off.
While the Chinese
equities drove its other Asian counterparts lower and now waver between
gains and losses, with the benchmark Shanghai Composite index almost
muted around 2,835, the CSI300 index trades +0.11%, while Kong’s Hang
Seng drops -1.04%.
