Asian stocks trade mixed, Nikkei tumbles on re-open

By FXStreet FXStreet (Mumbai) – A mixed performance in equities is witnessed across the Asia, with Australia’s ASX rebounding after yesterday’s steep losses while the Japan’s stocks plunged, catching-up with markets after a three-day break.

Japanese markets re-open on a bearish note

The Japanese benchmark, the Nikkei fell sharply as the markets opened on Thursday as Japan’s markets caught up with a global sell off which began Monday. While a stronger yen versus the US dollar also hurt the exporters’ stocks, dragging the index lower. At the moment, USD/JPY trades -0.21% lower at 120 while the Nikkei drops -2.31% to 17,652.

The benchmark Australian S&P/ASX 200 index rebounded sharply, up 0.97% to 5,046 points, with the heavily-weighted ‘big four’ banks supporting the index, as well as resource stocks.

The Chinese markets traded mixed with the Shanghai Composite gaining over 1% to 3,148 points. While Hong Kong’s benchmark Hang Seng index loses -0.38% at 21,231. Korea’s benchmark Kospi index trades higher by 0.43% to 1,953 points in Seoul.
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Source:: FX Street