Asian equities continue with a more sour mood today
The late drop in US equities didn’t really help the mood coming into Asia today but the region has its own problems lately when it comes to propping up risk appetite.
In Japan, the shift in BOJ ETF policy hasn’t quite provided much comfort with the central bank likely to pare back on purchases moving forward. Both the Topix and Nikkei are down by 2% today and chipping further away at gains for the year.
Meanwhile, in China, the pulling of support from the PBOC isn’t helping to keep the peace in Chinese stocks whatsoever. The central bank is shying away from injecting short-term liquidity into the system and that is prompting a lot of nervousness in the market.
The CSI 300 index has broken back below 5,000 and is now threatening the 9 March low @ 4,918, having fallen by 17% since peaking on 18 February.