Tokyo's benchmark index leads declines in Asian trading
Equities sentiment remains fragile right now and hopes of any decent Santa Claus rally looks to be shelved at the moment. US equities failed to capitalise on the weaker jobs report on Friday as stocks got battered once again and that sentiment is flowing through to Asian trading today.
Japanese stocks are weighed lower mainly by financials as Treasury yields continue to slump and yield curve inversion worries continue to stoke market fears. Meanwhile, there's still ongoing concerns about the US-China trade truce with the Huawei case still up in the air right now and that's not helping market confidence either.
Chinese stocks are weighed lower as well with the Hang Seng index down 1.4% and the Shanghai Composite index lower by 0.8% currently on the day. The yen was the early beneficiary in all of this with USD/JPY falling to a low of 112.24 but has bounced off a little to 112.47 currently.
Risk will once again be another key theme in markets for the next few sessions so be on the look out for any further downturn in US equities. Right now, E-minis are down by about 0.7% ahead of European trading.
