The Nikkei closes higher but loses most of its shine in the final hour
It is a similar case for other Asian equities with the Hang Seng turning lower by 0.4% while the CSI 300 index is also flat on the day after having gained by 1% earlier.
The late drop comes amid a tumble in US futures, after Credit Suisse joined Nomura in warning of "significant and material" impact from "a US-based hedge fund defaulting on margin calls"; note the Archegos Capital liquidation news here.
In FX, the dollar and yen are holding slight gains with commodity currencies trailing but ranges are still somewhat narrower for the time being at least.
