Risk-off grips Asia, Nikkei pares gains on firmer Yen

A renewed bout of risk-aversion appears to hit the Asian markets, with most major Asian indices turning into the negative territory. While the Japanese stocks rally was capped after the yen climbed on Japan’s Asakawa’s comments that intervention will say in the tool box.

The Asian markets opened on a stronger footing, tracking strong gains on the Wall Street overnight as the oil prices jumped back above $ 50 mark for the first time since November.

China stocks drag Asia lower

The Japanese benchmark index, the Nikkei 225 now advances +0.29% to 16,805 points as USD/JPY drops 109.65 levels, down -0.45% on the day. Australia’s ASX 200 index drops -0.17% to 5,363 points, on mixed Aus capex data and stalling oil price rally.

While the Chinese equities dive in the red and lead the Asian markets decline, with the benchmark Shanghai Composite index down -0.90%, the CSI300 index also drops -0.67%. Hong Kong Hang Seng declines -0.41%.