 While the US markets tumbled for another day overnight, Asian markets showed their own resilience and turned positive after initial pressure. Nikkei closed up 0.46% at 22694.66. Japanese 10 year JGB yield is also above 0.15 at 0.151, up 0.0059. Singapore Strait Times is rising 0.72%. Hong Kong HSI is trading up 1.82%. China Shanghai SSE is up 0.86% at 2605.93 but cannot reclaims 2638 key support yet. Overnight, DOW lost -2.13% or 545.91 pts to 25052.83, barely held 25000 handle. S&P 500 lost -2.85% and NASDAQ dropped -1.25%. Treasury yields also tumbled with 10 year yield closed down -0.092 at 3.133. In the currency markets, Canadian Dollar is the strongest one so far today, followed by Sterling and then Dollar. Yen is the weakest one again for today. But it's now followed by New Zealand and then Australian Dollar. For the week, however, Canadian Dollar is the weakest one followed by Dollar. New Zealand Dollar, yen and Australian Dollar are the stronger ones. Technically, there is no clear sign that Dollar is bottoming, except possibly versus Yen. The greenback might need to seek help from stabilization in US stocks, if that happens today, to find its footing. |
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