Nikkei 225 closes lower by 0.37% at 23,331.94

Author: Justin Low | Category: News

Asian equities less sour after the selloff in Europe, US yesterday

Nikkei
The Nikkei is closing lower on the day, but closer to the highs as Asian equities rebound from a more subdued start to the session earlier. The Hang Seng is seen down 0.4% but the Shanghai Composite is up by 0.3% going into the closing stages.

Elsewhere, US futures are up by 1.1% with S&P 500 futures pointing to a 36-point gain at the moment, so that is arguably helping with sentiment a little.

That said, all of this just points to some retracement after the sharp losses yesterday as the risk mood remains more fragile for the time being.

In the major currencies space, there is also some mild retracement to the moves yesterday with GBP/USD mildly higher above 1.3000 but gains remain limited by the key hourly moving averages closer to 1.3025-28.

Meanwhile, AUD/USD is a little higher as it consolidates losses around 0.7050-60 levels, but not really showing much poise for a stronger retracement so far.

Despite the risk selloff yesterday, USD/JPY managed to keep above 104.00 and may stay that way with large expiries sandwiching the pair between 104.00 and 104.50 for now.
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