Asian stocks weighted by Italy vote, US payrolls

Dhwani Mehta FXStreet

Risk-off sentiment remains the underlying theme in Asia, driving the Asian equities into negative territory on the final trading day of the week as Trump-win rally fades amid renewed concerns over the Italian referendum and US economic prospects, in light of the recent strength in the US dollar and treasury yields.

Moreover, a retreat in oil prices combined with sharp losses in coppers weigh on the resource and energy sector stocks on the Australian markets and also across rest of Asia. Meanwhile, the traders ignored upbeat Australian retail trade data as all eyes now remain on the US labor market report to gauge fresh signs of strength in the US economy.

Meanwhile, Japan’s Nikkei 225 drops -0.63% to 18,396, the Australian S&P/ASX 200 drops -0.79% to 5,457. The Chinese equities also follow suit, with the benchmark Shanghai Composite index down -0.53%, while CSI300 index declines -0.75%. Hong Kong markets dive -1.07% to trade around 22,630 levels.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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