Epic Research Update : Asian Markets

Markets in Asia dropped on Friday, with the Nikkei tumbling, after a sell-off on Wall Street as oil remained volatile and concerns about how central banks’ easing measures will affect banks’ earnings persisted.

Japan’s Nikkei 225, which reopened after a public holiday on Thursday, dropped 5.1 percent. The Nikkei 225 has been on a downward track in recent days, as the yen rapidly strengthened against the dollar. That’s a negative for Japan’s stocks as exporters’ overseas earnings are pressured by a stronger currency when they’re translated back into yen.

Across the Korean Strait, the Kospi was down 0.36 percent.

Japanese banks saw steeper losses, with Mitsubishi UFJ down 3.24 percent, SMFG lower by 3.47 percent, Mizuho Financial shedding 4.90 percent and Nomura falling 6.30 percent.

South Korean brokerages were down between 0.70 and 2.69 percent; Samsung Securities fell 2.10 percent, while Daewoo Securities was down 1.47 percent.

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Posted in: Indian Market Tips