We expect another negative session for the Asian markets

Again, a negative start is emerging for Asian markets amid the still-booming virus in China.

Futures in Japan, Hong Kong and Australia point to a weaker opening. The city of Wuhan – where the epidemic started – announced a ban on the use of any transport, with the government preparing for a major operation to control the situation. Today and the last day the Chinese markets will operate because the Lunar New Year begins.

Nikkei 225 futures are down 0.7%. Hang Seng is also expected to open 0.7% down and Australia’s ASX200 down 0.2%.

In currencies, the yen remains flat, the offshore yuan is retained at 6.9091, the US dollar gives way, and the British pound enters the Asian session with an increase of 0.7%. The euro also remains in positive territory.

Source: Bloomberg Finance L.P.
Graphs: Used with permission of Bloomberg Finance L.P.

 Trader Martin Nikolov

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