Nikkei sees relief rally, rest of Asia lower

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 11, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Mumbai) - Mixed sentiment is seen around the Asian equities, with the Japanese stocks staging a solid comeback after hitting monthly lows on Thursday. While rest of Asia trades in the red amid continuous decline in oil prices.

    Nikkei supported on weaker yen

    The Japanese stocks rebounded higher this session, tracking positive close on the Wall Street overnight after the US stocks ignored the oil price decline. Moreover, a weaker yen also helped lift sentiment around the exporters’ stocks. USD/JPY now trades 0.41% higher at 122.0 while the Japanese benchmark index, the Nikkei jumps 1% to 19,235.

    While the Australian stocks erased early gains and turned negative as weakness in oil prices continued to weigh on the energy stocks. Australia’s S&P/ASX drops -0.30% to 5,023.

    The Chinese indices also dived into losses, despite PBOC setting the yuan midpoint at lowest level in four and a half year today. Markets also shrugged off news that Shenzhen-Hong Kong Stock Connect is ready to take-off soon. Meanwhile, the benchmark Shanghai Composite (SSEC) falls -0.99% to 3,421. China’s A50 index slides 0.95% to 10,257 points. While Hong Kong’s, the Hang Seng trades -0.77% lower at 21,548.
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