Wednesday, 17 January 2018

Asian session turns red; Bitcoin plunges to $10,000

Posted by Olga Gorinina at 10:47 Labels: ,

Asian equities traded mainly down on Wednesday following a reversal of Wall Street’s three major indexes that left them in red territory in the previous session.

In Japan, the Nikkei 225 came under pressure as key components such as SoftBank Group and Fanuc eased during the day. The downside dynamic was also replicated in Australia, with the S&P/ASX 200 down by half a percent as heavyweight mining companies dropped.

Attention was also directed to the cryptomarket, where Bitcoin briefly broke below the $10,000 mark on Coinbase to later return at around $11,350 per unit. Meanwhile, Ethereum, the second most popular cryptocurrency, was down by nearly 30 percent to trade at around $1,020.

The retracement comes in reaction to remarks from South Korean authorities indicating that regulation on cryptocurrencies is being discussed.

<<< Next in Europe >>>

The German CPI for December came in line with analysts’ expectations at a monthly rate of 0.6 percent. The UK CPI also matched its forecast at 0.4 percent monthly growth rate.

Today, traders will be looking ahead to the release of Eurozone’s consumer price index for December at 10:00 GMT, with a 0.9 percent build seen.

<<< Next in the United States >>>

Industrial production figures for December are up at 14:15 GMT, followed by Federal Reserve’s Beige Book at 19:00 GMT. Market participants will also monitor speeches by FOMC Robert Kaplan and Loretta Mester as of 20:15 GMT and 21:30 GMT respectively.

<<< Asian Stock Indexes at 07:30 GMT >>>

Australia ASX S&P                -31.60             -0.51%            6,134.30
Shanghai Composite             +8.08              +0.24%           3,444.67
Hong Kong Hang Seng          -13.80             -0.04%            31,890.95
Japan Nikkei 225                   -83.47             -0.35%            23,868.34

Taiwan TSEC 50 Index          +18.69            +0.17%           11,004.80

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