Nikkei Leads Asian Stocks Decline on Firmer Yen

Nikkei Leads Asian Stocks Decline on Firmer Yen

24 May 2016, 05:27
Roberto Jacobs
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Nikkei Leads Asian Stocks Decline on Firmer Yen

The stocks on the Asian bourses traded with size-able losses this Tuesday, taking the negative lead from the Wall Street overnight, while oil-price sell-off also weighed down on the resource and energy stocks.

Adding to cautious tone in the Asian trades, markets continue to digest increasing odds of a Fed rate hike as early as next month, which will put a halt to the cheap money having flooded the markets so far.

Nikkei 225 drops on overnight Yen strength

The Japanese benchmark index, the Nikkei 225 drops -0.67% to 16,543 points, while USD/JPY now corrects higher to 109.40, up 0.13% on the day. Australia’s ASX 200 index drops -0.14% to 5,311 points.

While the Chinese equities also follow suit, with the benchmark Shanghai Composite index down -0.66%, the CSI300 index also trades -0.64% lower, while Hong Kong’s Hang Seng loses -0.13% to 19,783 levels.


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