Asian Stocks in Red, Gold Remains Supported Above $1232
All the Asian markets are trading on a lower note on Friday. Moreover, Europe and U.S. markets were closed with major losses. Overnight Fed Chair Yellen’s speech provides no further hints regarding interest rate hike. She said that the central bank remains on track to gradually raise interest rates if the economy continues to evolve as expected. The USD/JPY traded at an 18-month low overnight before rallying on Friday.
Gold hit high at $1243 on Thursday and currently trading around $1236 marks.
Japan’s Nikkei 225 index was trading 0.56% lower at 15,661.58 points on Friday morning in Tokyo. The broader Topix moved in a similar path, trading 0.48% lower at 1,267.28 points, having started the day much deeper in the red.
Chinese markets opened on a sour note as well on Friday, the Hang Seng index falling 0.84% to 20,096.22 points within the first hour of trade, and the Shanghai Composite sliding 0.50% to 2,993.28 points.
South Korea’s Kospi was trading 0.66% lower to 1960.46 points.
Australia's benchmark S&P/ASX 200 index fell 0.57% to 4,935.10 points in Sydney.
New Zealand's S&P/NZX 50 index was trading 0.59% lower at 6,715.71 points in Wellington on Friday afternoon.
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