Monday, September 28, 2015

Asian stocks trade lower, ASX bucks the trend

FXStreet (Mumbai) - Stocks on the Asian bourses trade mixed amid a dull start to a busy week ahead, as markets still remain wary over the Fed’s rate hike prospects and global economic uncertainty.

Nikkei – biggest loser in Asia

The Japanese benchmark, the Nikkei had a negative start and subsequently extended losses on the back of a stronger yen versus the US dollar which weighs on the exporters’ stocks. At the moment, USD/JPY trades -0.11% lower at 120.36 while the Nikkei drops -1.18% to 17,690.

The benchmark Australian S&P/ASX 200 index flipped to gains after opening slightly lower, with banking stocks leading the index higher. The index now rises 0.93% to 5,089.

The Chinese markets showed a lacklustre performance with the Shanghai Composite fluctuating between gains and losses, now down -0.87% at 3,056 points. While Hong Kong markets are closed today for the Mid-Autumn festival holiday. Korea's benchmark Kospi trades flat at 1,943 points in Seoul.
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