Asian stocks remain in sell mode as Wall Street slumped overnight with further worries over the Chinese economy keeping risk markets at bay. The USD has given up some ground against the majors but the Australian dollar looks extremely weak while Yen appreciated due to a higher than expected domestic inflation print.
Oil prices are trying to bounce back after the recent modest selloff with Brent crude just above the $84USD per barrel level while gold remains entrenched in a downtrend following its breakdown below the $1900USD per ounce level this week:
Mainland Chinese share markets are sluggish with the Shanghai Composite down a handful of points going into the lunch session at 3162 points while in Hong Kong the Hang Seng Index has lost more than 1% at 18120 points.
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