 The financial markets are mixed in Asia today as risk aversion seemed to have peaked for now. NASDAQ led US stocks decline overnight a hit as low as 7654.84 but closed down only -0.67% at 7735.95. S&P 500 also dipped to 2862.08 but closed down -0.04% at 2884.43. DOW even reversed earlier loss to close up 0.15% at 39.73. In Asia, China Shanghai SSE is up 0.49%, paring some of yesterday's -3.7% loss. Hong Kong HSI is up 0.42%. Nikkei and Singapore Strait Times, however, are down -1.31% and -0.40% respectively. In the currency markets, Australian Dollar is trading as the strongest one for today so far, as lifted by stabilizing Chinese stocks, as well as improvement in business confidence. Yen follows as the second strongest, which could in that risk aversion is ready to come back any time. Dollar is trading as the weakest one, as yesterday's rally attempt failed. Swiss Franc follows as the second weakest, then Canadian. Technically, a main focus is whether USD/JPY could draw support from 112.94. fibonacci level for rebound, or it will dip lower in sync with other yen crosses. Also, there are signs that Dollar has made temporary tops, against Euro, Aussie and Canadian. We could see some corrective trading in Dollar in near term as it digests last week's gains. |
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