Japan re-opens in the red, drags Asia lower ahead of US NFP (06/05/16)

The Asian equities extend their losing streak into an eighth-day this Friday, headed for the biggest weekly loss since February, as weaker sentiment on the US stocks amid renewed oil price sell-off extended into the Asian trades.

Moreover, the Japanese markets re-opened on a bearish note after a 4-day break and played catch up with the latest global developments, leading the decline in the Asian equity markets. While traders turned on the side-lines ahead of the crucial US non-farm payrolls data, which is expected to create massive volatility and may provide fresh insights on the US interest rates outlook.

Asia dips on increased nervousness ahead of NFP

Meanwhile, the Japanese benchmark index, the Nikkei 225 drops -0.92%, Australia’s ASX 200 index slides -0.26% to 5,264 points, weighed down by heavy losses in the banking stocks after RBA’s SoMP.

While the Chinese equities also kept losses, with the benchmark Shanghai Composite index modestly flat just shy of 3k mark, the CSI300 index drops -0.10%, while Kong’s Hang Seng slides -1.01%.

News Source: fxstreet.com