Asian Stocks Attempt Recovery Amid Higher Commodities

Asian Stocks Attempt Recovery Amid Higher Commodities

22 April 2016, 06:10
Roberto Jacobs
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Asian Stocks Attempt Recovery Amid Higher Commodities

The Asian stocks dropped this Friday, after three consecutive sessions of gains, tracking losses from the Wall Street overnight. However, over the last hour, the Asian equities are seen making minor-recovery attempts, closely monitoring the developments surrounding oil markets.

China stocks trade higher amid huge cash injections

The Japanese stocks are seen paring losses as the Yen loses control amid improved risk sentiment after the black gold staged a comeback this session. The Japanese benchmark index, the Nikkei 225 now trades marginally lower around 17,350 points, while USD/JPY trades muted at 109.40. Meanwhile, markets ignored weak flash manufacturing PMI out of Japan released earlier today.

The Australian markets also joined the recovery mode, with the benchmark S&P/ASX 200 index losing -0.35% to 5,254. While the Chinese benchmark Shanghai Composite index erased gains and falls -0.08% to 2,950 points, the CSI300 index pares gains to trade 0.28% higher, while Hong Kong’s Hang Seng slides -0.65% to 21,485 levels.


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