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In Japan, the Nikkei 225 initially halted its losing run to open 0.38 percent higher, but quickly erased gains to trade down 1.82 percent. Yesterday, the index plunged 5.4 percent, falling for five of the past six sessions.
Singapore’s Straits Times index, which resumed trading after being shut Monday and Tuesday for the Lunar New Year holidays at the start of the Year of the Monkey, was down 2.75 percent in early trade.
Markets in Malaysia are also set to re-open today. Hong Kong and South Korea will resume trading on Thursday. Mainland Chinese markets and Taiwan will be closed for the week.
In Japan, banking stocks continued their downward slide, with shares of Mitsubishi UFJ down 2.48 percent, SMFG down 1.38 percent and Mizuho Financial shedding 1.59 percent, as concerns remain over their profitability in a negative interest rate environment.
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Posted in: Indian Market Tips
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