Asian stocks traded mixed with Japanese equities erasing losses as the yen declined, while a sudden sell-off that sent Chinese equities plunging on Thursday fizzled. The dollar was firmer as Treasury yields climbed. With U.S. markets closed and most American investors out for the Thanksgiving holiday, volumes remained lackluster in Asia as traders in Tokyo returned back at their desks after a holiday in Japan on Thursday. The Hang Seng Index advanced with Chinese stocks traded in Hong Kong climbing. The Bloomberg dollar index rose for the first time in four days. The severity of Thursday’s slump in Chinese stocks caught some traders off-guard and left some questioning why authorities decided not to step in this time as they have often done in the past. The selloff in Chinese shares, which triggered a 1 percent slump in the Hang Seng Index, was a reminder to international investors that turbulence in mainland Chinese markets can spread.
Nikkei +0.12% Hang Seng +0.53% CSI +0.02% Shanghai +0.07% Shenzen -0.02%
Eur$ 1.1847 CNH 6.5927 CNY 6.5964 JPY 111.52 GBP 1.3288 CHF 0.9822 RUB 58.5471 WTI$ 58.45 +0.74%
S&P +0.07% Eurostoxx +0.03% FTSE +0.10% Dax +0.16% SMI +0.01%
Macro :
- China Cuts Import Duties on Goods Including Baby Formula
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