Asian stocks are mostly lower, tracking the sluggish performance seen overnight in Wall Street
Asian equities are seeing red today following a solid start to the week yesterday, as US stocks were unconvincing in overnight trading despite more optimistic trade comments from the weekend. The only bright spot in equities so far today is Chinese stocks as they are mildly higher following local authorities' comments offering support to bolster the economy as the NPC begins.
Overall risk sentiment remains somewhat subdued though and that is not lending a hand for currencies as we gear towards European trading. The dollar is holding firm while the aussie and kiwi are the laggards so far, taken down by poor Chinese economic data once again.
I would expect European equities to show flattish sentiment (or even slightly weaker) later, but if anything it'll err towards the side of caution more than anything else. And that shouldn't lend risk currencies much help as we start the morning in a few hours.
