Stocks in Asia are mostly negative, taking...>

STOCKS: Stocks in Asia are mostly negative, taking a negative lead from US

stocks. In Japan the Nikkei 225 is down 103 points at 23,848. The index opened

sharply lower after hitting the highest levels since 1991 on Tuesday. Indicators

showed the index was overbought, the RSI peaked at 72.5 on Tuesday. Also

pressuring the index were gains in the yen, USD/JPY is last at 110.68 but

briefly touched lows of 110.20 as broad USD weakness permeated markets. On the

Nikkei 225 8/11 sectors are in the red, Energy and Materials are the two biggest

drags as the energy and metals complex declines. 

- In Australia the ASX200 is down 27.5 points at 6,021, taking a hit from losses

in the Energy and Materials sectors. Financials are also a drag on the index as

the market awaits pricing of the new November 2029 syndication.

- In China the Shanghai Comp is up 6 points at 3,442, in Hong Kong the Hang Seng

is down 155 points at 31,749. There have been some sizeable swings in the Hang

Seng, a 200 point range. The index rose above 2007 highs on Tuesday and saw some

profit taking at the open. Bitcoin has taken a dive over the past few days which

has hit companies in Hong Kong with exposure to cryto currencies.