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Asian investors restrained due to U.S. markets uncertainty

Michigan State News
16 Oct 2018, 17:14 GMT+10

SYDNEY, Australia – Stocks rebounded in Tokyo on Tuesday, recouping losses that had been sustained on Monday.

The Nikkei 225 rose 277.94 points or 1.25% to 22,549.24.

Elsewhere, the Australian All Ordinaries added 29.80 points or 0.50% to 5,977.80.

The Jakarta Composite was up 17.84 points or 0.31% at 5,745.10.

Chinese markets softened with the Shanghai Composite falling 23.99 points or 0.93% to 2,544.10. The Hong Kong Hang Seng also dipped, losing 125.27 points or 0.49% to 25,319.79.

Market watchers said the recent volatility on U.S. markets had been a major factor in the unsettling of Asian markets in recent days, and the geopolitical concerns involving Saudi Arabia have also limited gains.

“The focus of the markets has turned to the Middle East due to the Saudi incident. And with U.S. stocks still struggling, other equity markets will have a difficult time bouncing convincingly,” sMasahiro Ichikawa, senior strategist at Sumitomo Mitsui Asset Management in Tokyo, was quoted by Reuters Thomson as saying.

“The United States has been the epicenter of the recent market tumult, with Wall Street shares being hit by higher Treasury yields. U.S. shares will have to find their feet first,” Ichikawa added.

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