ASIA-PAC MID-SESSION UPDATE: Humdrum tone in Asia after Wall St's losses and lack of drivers
Asia equity markets lacked any firm direction after the weak momentum from US where all 3 major indices closed negative due to geopolitical concerns, while the Nasdaq took the brunt of the worst day for the tech sector in over a month. This pressured ASX 200 (+0.1%) and Nikkei 225 (-0.2%), although strength in energy names following a 3% rally in crude later helped pare losses in Australia. Elsewhere, Hang Seng (+0.1%) and Shanghai Comp. (Unch.) also conformed to the lacklustre, indecisive tone at the open amid a lack of drivers and a weaker PBoC liquidity operation.
In FX markets, JPY maintains firmness as the safe-haven currency benefits from the risk averse tone in Japan. Elsewhere, NZD/USD extended on its post-election weakness after disappointing data releases including the latest trade data and business confidence surveys, while other major currencies were uneventful and took the opportunity to nurse yesterday’s losses against the greenback.
Finally, 10yr JGBs were only slightly supported from the cautious risk tone in Japan, with demand subdued as participants are side-lined ahead of today’s 40yr auction.
26 Sep 2017 - 03:32- EnergyResearch Sheet- Source: RANsquawk
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