Outside China, risk sentiment is falling again with stock markets in retreat here in Asia with Eurostoxx and US futures looking to start poorly as well. The gold price remains static at just under the $1800USD per ounce level while other undollars are gaining with Euro and the Aussie dollar lifting while Yen becomes bid due to the risk off trade.
In mainland China, the Shanghai Composite has crossed the 3400 point level, up over 1.7% at one stage, while in occupied Hong Kong the Hang Seng Index has put on some minor gains, up 0.4% to 26085 points. The daily chart shows price remains supported after the start of week breakout:
Japanese stocks put in another poor session, with the Nikkei 225 falling 0.8% to 22438 points with the USDJPY pair unable to bounce off support to remain at the mid 107 level and still at its start of week opening point:
The ASX200 was the worst in the region, reacting poorly to the continued Victorian breakout, falling sharply in the afternoon session to close 1.5% lower at 5920 points. The Australian dollar was unable to make any gains post yesterday’s RBA meeting, almost breaking through the 69 handle as momentum fully inverts:
Eurostoxx futures are down about 0.8% while S&P futures are also rolling over, down 0.4% now and looking to get back to where it started the week, reverting back to previous resistance at 3130 points:
