Asian stocks stage a comeback amid rebound in risk
|Following a negative start on Tuesday, the Asian stocks are now attempting a minor-recovery as risk appetite appears to have returned to markets, as the US election debate kicked-off and eased market jitters somewhat.
However, the recovery appears fragile amid weaker oil prices, as investors’ remains wary ahead of the OPEC Algerian meeting this week. While yesterday’s comments delivered by BOJ Governor Kuroda continues to weigh on Tokyo banking and life insurance stocks.
Moreover, the Deutsche Bank saga will also continue to keep a check on the upside in the region’s indices. Deutsche Bank AG sank to a record low on speculation that Germany’s biggest bank will need to raise capital, dragging global banking and financial shares lower.
Meanwhile, Japan’s Nikkei 225 now drops -0.28% to 16,495.81, the Australian S&P/ASX 200 drops -0.69% to 5,394, while the Chinese equities turn positive as markets cheer upbeat Chinese industrial profits data, with the benchmark Shanghai Composite index up +0.14%, while CSI300 index rises +0.25%. Hong Kong markets gain +0.62% to trade around 23,460 levels.
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