Trading volumes are thinning out as we head into the end of the year but it was still a case of broad selling across Asian stock markets as they continue to move in step with the negative risk sentiment in Europe and the US. The USD continues to push back against the commodity currencies, with Euro sliding down into the low 1.06s while the Australian dollar gapping slightly higher over the weekend break to be just above the 67 level but still looking quite weak. Meanwhile oil prices are failing to get off the floor with Brent crude just below the $80USD per barrel level while gold is trying to break out again after almost pushing through the key $1800USD per ounce level on Friday:
Mainland Chinese share markets are selling off sharply as we head into the close with the Shanghai Composite down over 1.5% to almost cross below the 3100 point level, currently at 3118 points while the Hang Seng Index is down nearly 0.7% at 19305 points. Japanese stock markets continue their own steep falls with the Nikkei 225 closing more than 1% lower to 27222 points as the USDJPY pair initially gapped lower but has now recovered to just above the 136 level as it continues its own sideways volatility:
Australian stocks were the best in the region with only a mild selldown, with the ASX200 losing just over 0.2% to remain well below the 7200 point level, finishing at 7133 points. The Australian dollar was able to gap higher at first on the Sydney open before getting sold off this afternoon to just above the 67 handle, in line with its recent weekly lows:
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