Asian share markets are finishing the week in selloff mode in response to the falls in tech stocks on Wall Street overnight and the continued uptrend in sovereign bond yields. The USD remains firm against the major currencies, although there has been a slight reprieve later in the session with some volatility around the latest BOJ interest rate meeting, but nothing out of the ordinary. Bitcoin is trying to climb back above the $58K level after its mild pullback last night alongside other undollars, but looks set to finish the week below its gap high above $60K:
The Shanghai Composite is down over 1% going into the close, currently at 3426 points while the Hang Seng Index has pulled back all of its previous gains, currently down 1.5% to 28950 points. Japanese markets are mixed with the TOPIX flat while the Nikkei 225 is currently 1% lower at 29859 points as the usually supportive USDJPY pair continues to slide slower below the 109 handle:
The ASX200 is down 0.6% going into the close capping off a bad week for local traders, currently at 6705 points while the Australian dollar has steadied somewhat at the mid 77 level against USD after its big drop overnight in line with other risk assets:
Eurostoxx and S&P futures are flat so far, with the four hourly chart of the S&P500 showing price wanting to stabilise just above the key 3900 point psychological level going into the end of the week and what looks like a perilous time:
The economic calendar finishes the trading week with a whimper, a few Fed speeches and private oil rig count but not much else.
Have a good weekend and stay safe!