Asian Stocks Trade Subdued, Fall for 7th Day in a Row
The stocks on the Asian bourses traded largely subdued this Thursday,
extending losses for the seventh consecutive session and marking the
longest losing-streak of the year. The Asian equity markets took the
negative lead from its Wall Street and kept the red amid overnight
retreat in the oil prices and increasing talks of a June Fed rate hike.
Moreover, weak corporate earnings results and poor manufacturing and employment numbers from the US continues to dent sentiment around the global equities. Meanwhile, equity markets in Japan, South Korea, Thailand, and Indonesia are closed for holidays.
US NFP data – Next in focus
The Australian stocks display lacklustre trading, with the Australian benchmark index ASX 200 trading almost unchanged around 5,270 points. While the Chinese equities consolidated the downside, with the benchmark Shanghai Composite index modestly flat below 3k mark, the CSI300 index drops -0.19%, while Kong’s Hang Seng slides -0.50%.