Nikkei 225 rebounds, China stocks extend decline

By FXStreet FXStreet (Mumbai) – The stocks on the Asian bourses are seen trading mixed, with the Japanese stocks rebounding, while rest of Asia extends in the red. Meanwhile, the Fed outcome due later today also keeps the markets cautious and adds to the subdued trading across Asia.

Nikkei – the top performer

The Japanese benchmark index, the Nikkei 225 jumps 2.40% to 17,117 and ends a 2-day decline as the industrial sector stocks led the advance in the index. The overnight bounce in the oil prices also lifted sentiment somewhat and boosted the energy and resource stocks. Meanwhile, USD/JPY trades -0.20% lower at 118.20 levels.

The Australian markets re-opened on a negative note as falling expectations of RBA cut weighed on corporates. The latest above estimates headline CPI numbers from Australia reduced the chance of RBA going for rate cut in Feb to 6% from previous 19%. The CPI rose 0.4% over the October-December period, easing from the 0.5% in the September quarter but higher than forecasts of 0.3%.

On the Chinese stock markets, negative sentiment continues to dominate and drove the region’s indices further into the red zone. The benchmark Shanghai Composite index trades at the lowest levels since Dec 2014 as concerns …read more

Source:: FX Street