- Major markets in Asia were mostly down on Friday, with the Japanese market falling behind its regional peers.
During Asian hours, oil prices were down more than 1 percent. U.S. crude fell 1.01 percent at $30.46 a barrel while the global benchmark Brent was lower by 1.17 percent at $33.88 a barrel as of 10 a.m. HK/SIN time.
- Asian stocks fell, ending their best week this year on a down note, as a resumption in losses for oil buoyed haven assets such as the yen. South Korea’s won pared its drop after policymakers signaled a readiness to bolster the currency.
“The stronger yen will be a burden on Japanese markets,” Hideyuki Ishiguro, a senior strategist at Okasan Securities Co. in Tokyo, said by phone. “Investors are concerned at the downside of earnings, especially for exporters, which may weigh down the markets. We’re not in a place where we can buy. The yen may strengthen further versus the dollar.”
Reference: CNBC, Bloomberg
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