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Asian stocks dive for 2nd day on oil sell-off, China woes

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 9, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The Asian stocks markets crumbled for the second straight session this Wednesday after risk-off sentiment remained in full swing in response to the overnight sell-off in the oil prices, while nervousness ahead of China’s inflation report also weighs down on the regional indices.

    Australia’s ASX 200 bucks the trend

    The Japanese benchmark index, the Nikkei 225, drops -1.59% to 16,515 points, as the Japanese currency continues to remain bid on the back of safe-haven flows. Meanwhile, USD/JPY trades modestly flat at 112.60 levels.

    The Australian stocks ditched their Asian counterpart and traded moderately higher, with the ASX 200 index up 0.33% to 5,124. While the Chinese equities extended the previous sell-off as worries over economic slowdown resurfaced after Chinese trade numbers worsened last month. While a weaker yuan fix by the PBOC also failed to lift the sentiment. The Shanghai Composite drops -2.42%, Shenzhen’s CSI300 slides -2.47%. Hong Kong’s Hang Seng falls -0.57%.
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