Nikkei dives deeper in the red as Yen rebounds amid risk-off

A classic risk-off theme persists in the Asian trades this Wednesday, with the traders seeking safe-havens at the expense of risky assets such as the equities. The Asian equities turned into the negative territory after a positive start, mainly driven by some aggressive selling seen in the Japanese stocks.

The Asian stocks dropped from near six-week tops after the optimism generated from the oil-price rally was quickly outweighed by a renewed bout of risk-aversion that hit the markets last hours.

China trade data in spotlight

The Japanese benchmark index, the Nikkei 225 now drops -0.40%, moving –off lows to trade around 16,610 levels, while USD/JPY remains heavily sold-off near 106.80, recording a -0.54% loss on the day. Australia’s ASX 200 index also follows suit and remains unperturbed by higher commodities’ prices, now falling -0.25% to 5,375.

While the Chinese equities trade with size-able losses ahead of the Chinese trade data, with the benchmark Shanghai Composite index dropping -0.65%, the CSI300 index trades -0.58% at 3,170 points. Hong Kong’s Hang Seng slips -0.44%.