THE ASIA DAY: China's stock sell-off continues

It’s been another sea of red across Asia today.

Here’s the scoreboard.

Asian Equities

  • Nikkei 225 19,291.99, -1.23%
  • Shanghai Composite 4,111.05, -2.75%
  • Hang Seng 27,257.00, -1.39%
  • S&P/ASX 200 5,645.70, -0.82%

Global Equity Futures

  • S&P 500 2,069.65, -0.22%
  • DAX 11,279.50, -0.8%
  • FTSE 100 6,845.50, -0.58%

China’s Shanghai Composite was smacked, falling 2.75%. The index has now fallen for three consecutive sessions, the longest losing streak seen since early February. At over 8%, it is also the largest three-day percentage decline since June 24, 2013.

Hong Kong’s Hang Seng, late in trade, is off 1.3%.

Australia’s ASX 200, having recorded the largest one-day percentage decline in two years yesterday, fell by an additional 0.8%. Japan’s Nikkei, resuming after the Golden week holiday, slid by 1.2%.

Forex markets, unlike the day seen in equities, were quiet. The Australian and New Zealand Dollars, higher-yielding plays, were bid early before giving back all of their gains later in the session. The Euro was flat while the Pound, heading into the UK general election, was down 0.3%.

In commodities gold and Brent crude were lower by 0.7% and 0.2% respectively.

Bonds, keeping with the familiar theme of late, are softer. German 10-year bund yields have risen to 0.652%. Japanese 10-year JGB’s, resuming after their break, have seen yields soar to 0.432%.

In economic data released today Australia’s April jobs report came in slightly below expectations while in Japan the latest services PMI rose to 51.3 from 48.4 in March.

Looking ahead markets will receive jobless claims and consumer credit data from the US, Canadian building approvals, German factory orders along with French industrial output and trade figures.

Voting has started in the 2015 UK general election. There’s live coverage here.

Forex Scoreboard
EUR/USD 1.1363, 0.11%
EUR/GBP 0.7465, 0.31%
EUR/CHF 1.0376, -0.17%
EUR/JPY 135.74, 0.15%
USD/JPY 119.48, 0.02%
USD/CHF 0.9132, -0.3%
GBP/USD 1.5222, -0.17%
AUD/USD 0.7968, -0.04%

Commodity Futures
Gold Futures $1,181.80, -0.71%
Brent Oil Futures $67.83, 0.08%

10-Year Bond Yields
Japan 0.432%, 0.068%
U.S. 2.247%, 0.007%
Germany 0.652%, 0.066%
UK 2.015%, 0.03%
Australia 2.996%, -0.001%

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