Following the rout on Wall Street overnight, Asian stocks took a tumble today, not helped by Chinese stocks taking the day off with both European and S&P futures in the red as traders go defensive before the amateurs start selling off. Gold came back a little as other undollars like Aussie remain depressed while Bitcoin has stumbled out of the blocks, almost making a monthly low below $9000
In China, the Shanghai Composite and Hang Seng Index were both closed while Japanese share markets had a lackluster session with low volatility, the Nikkei 225 finished 1.2% lower to 22259 points making a new weekly low. Meanwhile the USDJPY pair continued its bounce, pipping above the 107 handle but with reduced momentum going into the City open, only just above its start of weak false breakout high:
The ASX200 was the worst in the region, helped along by fears that the QANTAS announcement is putting some reality behind the recession, falling by 2.5% to 5817 points/ The Aussie dollar found some support but not much else mid session with price still wavering here well below the 69 handle and looking in a weak position in the medium term:
Eurostoxx futures are flat while S&P futures are down 0.5% or so with the four hourly chart poised here at the recent session lows just above 3030 points, with the potential to follow through on last night’s selloff and head back down to 3000 points proper:
