Asian Markets in Red Due to Declines in Energy Prices, Gold Slides to 4-Week Low
All the major Asian indices are trading on a lower note on Thursday. U.S. and European markets closed overnight with losses, mostly due to declines in energy stocks. In addition, Gold falls to 4 –week low on the back of hawkish comments from Fed officials.
The People's Bank of China set the Yuan reference rate at 6.5150 today, up from Wednesday's midpoint of 6.4936, representing a Yuan devaluation of 0.33%.
The Japan’s Nikkei 225 index trading 0.14% lower at 16,979.38 points and the Topix gauge sliding 0.57% to 1,356.20 points.
Shanghai Composite fell 0.91% to 2,981.54 points and Hong Kong's Hang Seng index shed 1.10% to trade at 20,399.96 points.
South Korea's Kospi index fell 0.30% to 1,989.89 points on Thursday.
Australia’s S&P/ASX 200 index was trading 1.11% lower to 5,085.00 points on Thursday afternoon in Sydney.
New Zealand's S&P/NZX 50 index was trading largely flat at 6,669.47 points on Thursday afternoon in Wellington. New Zealand recorded its highest trade surplus in nine months in February as exports rose further than expected. The New Zealand’s trade surplus expanded from a revised $13 million in January to $339 million last month.
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