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2021/03/24

Asian Stocks Slides Lower

 

The Shanghai Composite and CSI 300 have lower, Asian Stocks Slide, lower asian trade,   Downtrend fever asian stocks, Asian markets lower, fall all asial stocks, ASEAN markets ,   Singapore stocks lower, Manila down , Bangkok is 0.45% fall, Jakarta falling, ASX 200 higher ,   North Asian markets Lower, North Asian markets Down, North Asian markets Fall march , Kospi   has already down

Asian markets are in a defensive mode today, as concerns as rising that Covid-19 may delay the worldwide economic recovery. 

With a scarcity of other drivers in financial markets at the instant, intra-day sentiment is driving price movements, and today’s theme is certainly Covid-19. News that an enormous container ship is aground and blocking the Suez Canal won't be helping sentiment in export-sensitive Asian markets.


Stocks Updates :

The Nikkei 225 has already fallen by 1.60% today, with another sector of the index in negative territory, suggesting that retail investors are moving to cash defensive positioning en bloc. The Nikkei 225 isn't far away from support at 28,300.00, having broken its 5-month uptrend last Friday. Elsewhere, the Kospi has already down by 0.60%, comparatively supported by dovish financial institution comments.


China has another torrid day as retail investors also take uneasiness. The Shanghai Composite and CSI 300 have lower today 0.90%. Both indices have broken multi-month rising support lines within the past fortnight, leaving them susceptible to deteriorating sentiment. The Hang Seng is additionally seeing an investor flight, falling 1.60% today.


In contrast, and keep with recent weeks, the more cyclical ASEAN markets are rather still, if it's still lower on the day. Singapore is simply 0.15% lower, Kuala Lumpur has also 0.30%, with Jakarta falling 0.50%. Bangkok is 0.45% fall, and Manila just 0.20% down. With a way lower beta to the tech-driven speculative mania of 2020 than North Asia, I expect ASEAN markets to continue outperforming upcoming days.


By Variation, firm commodity prices have allowed Australia to buck the trend, with flooding causing supply disruption fears, notably coal. That has allowed resources to rise, boost the ASX 200 0.75% higher and therefore the All Ordinaries higher by 0.85%.


Overview :

Overall, price action remains choppy, but there's no denying that North Asian markets appear far more susceptible to negative sentiments immediately, reflecting their juicy valuations after the 2020 rally. That has left them assured for a deeper correction from a technical perspective if the international outlook darkens. All-in-all though, equity markets appear to be chasing their tail a touch, with investor fear sentiments driving short-term direction making for tons of noise, but little substance.

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