Asian stocks slip as caution sets in; debt yields firm – RTRS
Pharma, bank stocks pull Wall Street lower – RTRS
Risk appetite decreased in Asia. Most of the major stock markets are down on the day, led by the Nikkei 225, which lost more than 0.50 %. Meanwhile, the Japanese Yen rose against most other currencies overnight.
The main event in Asia was the release of Chinese trade data. The trade balance showed a deficit, while the market was expecting a surplus of over 170 billion Yuan. However, the big increase in imports was caused by the Chinese New Year holiday and has only a temporary effect.
Volatility in the major currency pairs has been low in the past few trading days. Traders are waiting for the ECB rate decision tomorrow and the US employment data on Friday. The market is not expecting any changes from the ECB, but is looking for hints if the QE programme could end earlier.