(MENAFN- DailyFX)
Talking Points
Asian stocks were always going to find the going tough given New York's Tuesday swoon Sure enough they did, with reports of more missile tests by Pyongyang deepening the local gloom Japan dominated the Asian data slate, but the numbers were second-tier and largely passed depressed markets by Asian stock markets endured a miserable Wednesday, plagued by very weak leads from Wall Street and reports of yet more missile tests by North Korea
Investors seem to be expressing rising doubts about the growth agenda of US President Donald Trump and dumping perceived riskier assets in the process. Asian stocks have enjoyed a reasonable run higher in recent sessions so Tuesday's US jitters could have been the chance some were waiting for to take a bit of profit. In any case the Nikkei 225 ended down 2.1%, for its worst session in two weeks. Australian stocks slipped 1.6%, with nervous glances cast at the country's plentiful commodity producers. Iron ore prices have teetered as investors worry that China's inventory rebuild could be slowing. The country's bank stocks were hit hard too.
arrel.
The remainder of Wednesday offers a scanty economic calendar. US existing home sales data will be released, as will official oil inventory numbers from the Department of Energy.
Would you like to know more about trading the financial markets? DailyFX's trading guide should be your first stop.
--- Written by David Cottle, DailyFX Research
Contact and follow David on Twitter:@DavidCottleFX
.
MENAFN2203201700760000ID1095336918
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.