25 Februari 2016 2:54 AM
The stock markets in Asia traded mixed on Thursday, with the Japanese indices posing a tepid recovery, while the Australian and Chinese equities extend losses after an early wobble.Sentiment hurt by oil weakness
The Japanese benchmark index, the Nikkei 225 rebounds this session, although appears to pare gains, now gaining 0.70% at 16,027 points. The Japanese stocks bounced-off five-day troughs and rebound higher, as a weaker yen offers some respite to the exports-oriented stocks. However, the recovery remains fragile as markets weigh the renewed selling seen in the oil prices after the late rebound on Wednesday faded.
The Australian markets were off to a shaky start and extended previous losses, with the ASX 200 index dropping -0.30% to 4,860. The gains in the energy stocks were offset by the sharp decline in the mining stocks, while weak Aus capex outlook also undermined the sentiment. Although the capex for Q4 2015 came in at +0.8% q/q vs -3.0% expected, the first estimate of 2016/17 capex came at A$82.6 bln, which is 19.5% lower than estimate 1 for 2015-16.
While the Chinese equities dived deeper into losses after the recent sell-off in oil refueled and China’s inability to manage a stable yuan fix ahead of the G20 meeting. The Shanghai Composite drops -1.41%, Shenzhen’s CSI300 also trades -0.65% lower. Hong Kong’s Hang Seng slides -0.45%.
(Market News Provided by FXstreet)
