Regional stockmarkets are all trading lower today after a solid fall of 2.1%was seen on Wall St overnight. Base metals were lower and energy and commodity stocks are feeling the fall overnight fall out here in Asia.
The Nikkei ended the morning session down 2%, the ASX200 is -1%, Kospi -0.8%. In Sydney, BHP is trading lower by 1.5%, RIO -4.5% and oil stocks, WPL and STO both down 2%. The banks are mixed with CBA and WBC showing small gains. Elsewhere Telecom, consumer staples and healthcare stocks are lending support.
In Japan, financials were weak across the board, with Mitsubishi UFJ -2.9% and Mizuho -2.4%. Realestate firms were hardest hit after the recent 10% plus gains seen. Mitsui Fudosan -4.2% Mitsubishi Estate -4.3%.
In South Korea, Psco was trading down 2.5% on commodity declines while exporters such as Hyundai were aslo lower, -2.2%.
