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Asia extends fall; ASX off 1.3%, Nikkei off 1.1%

Monkeys threw a wrench into Asian markets in a Lunar New Year’s initial week of trading, with sell-offs in Japan, Singapore and Down Under on Wednesday.

In Australia, a SP/ASX 200 mislaid 1.69 percent, extended Tuesday’s 2.88 percent drop, with a marketplace weighed by a energy, materials and financial sectors, that were down 2.62, 1.78, and 1.19 percent respectively.

In Japan, a Nikkei 225 primarily halted a losing run to open 0.38 percent higher, though fast erased gains to trade down 1.82 percent. Yesterday, a index plunged 5.4 percent, descending for 5 of a past 6 sessions.

Singapore’s Straits Times index, that resumed trade after being close Monday and Tuesday for a Lunar New Year holidays during a start of a Year of a Monkey, was down 2.75 percent in early trade.

Markets in Malaysia are also set to re-open today. Hong Kong and South Korea will resume trade on Thursday. Mainland Chinese markets and Taiwan will be sealed for a week.

Evan Lucas, marketplace strategist during spreadbetter IG, cautioned a free could be unpleasant and emanate a “bottleneck trade scenario.”

“The awaiting of Asian markets overshooting on their reopening after Lunar New Year is an augmenting risk,” he wrote in a morning note.

Article source: http://www.cnbc.com/2016/02/09/asia-stock-markets-to-follow-global-equities-sell-off-banks-under-pressure-yen-in-focus.html