Stocks in Asia are firmly in the red to......>

STOCKS: Stocks in Asia are firmly in the red to end the week, negative sentiment

rolling over from the European and US sessions as broadly risk off trade

dominated on Thursday. In Japan the Nikkei 225 is down 170 points at 22522. The

index opened slightly lower and continued to fall as the session progressed. A

stronger yen is weighing on the index, USD/JPY last down 10 pips on the session

at 112.30 and some 60 pips lower than highs on Thursday. Yen saw bids as jitters

over the US tax plan saw the USD sell off, while EUR/JPY sales also strengthened

the Japanese currency after the ECB kept rates steady and cautioned on

inflation. All 11 sectors in the Nikkei are in the red, Telecommunications

sector leads the way lower, down almost 4%, KDDI are dragging down the sector

after the Rakuten announcement hit the sector yesterday and a Deutsche Bank

downgrade today.

- In China the Shanghai Comp is down 28 points at 3264, in Hong Kong the Hang

Seng is down 314 points at 28850. Shares are coming under pressure after the

PBOC hiked MLF and OMO rates 5bp and Hong Kong hiked 25bp yesterday. Volatility

in regional stocks has spiked and shares have retraced their weekly gain.