Asian stocks are under pressure

Photo by Christian Augustin/Getty Image

Asian stocks, having ripped higher in early trade, have fallen into the red midway through Friday’s trading session.

Stocks in Australia, Hong Kong, South Korea and Singapore are all down between 0.24% to 0.68% while the Shanghai Composite in China has fallen by a larger 1.76%.

The Nikkei is the exception to the regional weakness, adding 0.2%, although it had been up more than 1% in the early parts of trade.

Remarks from Japanese economics minister Amari that the nation did not require an additional stimulus spending at present, along with the weakness in Chinese markets, are largely behind the renewed bout of weakness.

The US dollar, following hawkish remarks from US Fed Chair Janet Yellen earlier in the session in which she outlined a case for a rate increase later in the year, has been the star performer of currency markets, gaining against all major pairs.

Reflective of dollar strength, precious metals are trading lower while front-month WTI futures are trading flat. Chinese iron ore futures are outperforming, adding 1.2%.

Here’s the Asia scoreboard so far.

Stocks

  • ASX 200 5059.30 , -12.37 , -0.24%
  • Nikkei 225 17606.11 , 34.28 , 0.20%
  • Shanghai Composite 3087.32 , -55.36 , -1.76%
  • Hang Seng 21029.77 , -66.21 , -0.31%
  • KOSPI 1933.92 , -13.18 , -0.68%
  • Straits Times 2833.18 , -12.56 , -0.44%
  • S&P 500 Futures 1920.75 , 2.00 , 0.10%

Forex

  • USD/JPY 120.14 , 0.08 , 0.07%
  • USD/CNY 6.3756 , -0.0062 , -0.10%
  • AUD/USD 0.7004 , -0.0019 , -0.27%
  • NZD/USD 0.6321 , -0.0029 , -0.46%
  • AUD/JPY 84.15 , -0.17 , -0.20%
  • EUR/USD 1.1168 , -0.0061 , -0.54%
  • GBP/USD 1.5212 , -0.0028 , -0.18%
  • USD INDEX 96.280 , 0.2860 , 0.30%

Commodities

  • Gold $1,146.00 , -$7.62 , -0.66%
  • Silver $15.09 , -$0.03 , -0.20%
  • WTI Futures $44.97 , $0.06 , 0.13%
  • Copper Futures $2.309 , $0.00 -0.13%
  • Iron Ore Futures ¥378.00 , ¥4.50 , 1.20%

10-Year Bond Yields

  • Australia 2.693%
  • New Zealand 3.355%
  • Japan 0.334%
  • Germany 0.604%
  • UK 1.751%
  • US 2.148%

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