Asian stocks drop on US slide and weak commodities

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 22, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Mumbai) - The stock markets across Asia retreated on Thursday following a depressing lead from Wall Street and due to lower commodity prices.

    The regional ETF iShares MSCI Pacific ex Japan lost 0.71%. Shanghai Composite dropped almost 1%, while Hang Seng shed about 0.8%. Nikkei average in Japan fell 0.90%. Expectations of further stimulus from the Bank of Japan (BOJ) had taken the Nikkei average on an upward ride in the recent sessions.

    Meanwhile, shares in Australia edged 0.20% higher as rally in Santos shares lifted the energy counters.

    Major US averages finished lower overnight, while crude oil prices slid more than 2% to three-week lows. However, oil prices saw a moderate technical recovery in Asia today.
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