Nikkei 225 slumps on stronger Yen, Trump-effect fades
The bearish pressure behind the Japanese stock markets is seen intensifying over the last hour, driving rest of Asia lower, as the Yen extends its upbeat momentum versus the greenback, knocking-off USD/JPY to session lows near 114.75. A firmer yen weighs heavily on the exports-oriented and retail stocks.
However, the Australian and Chinese equities keep gains in wake of yesterday’s oil-price rally, which continues to buoy the sentiment around the resource and energy sector stocks, despite Trump’s lack of comments on fiscal (infrastructure) spending in his much-awaited speech delivered a day before. Trump's news conference left many questions for markets - Westpac
The Japanese benchmark, the Nikkei 225 index drops -1% to 19,175. The Australian benchmark, ASX 200 index rises +0.30% to 5,788 points. Mainland Chinese markets remain better bid, with the Shanghai composite and Shenzhen’s CSI 300 peeking into positive territory. Hong Kong's Hang Seng trades muted around 22,950.