Asian stocks keep the red, despite risk-on

Asian stocks extend rout for the third straight session this Tuesday, mainly weighed by the global economic outlook in wake of the Brexit decision.

However, over the last hour, the Asian indices are seeing a bit of a recovery on the back of improving sentiment towards risky assets, underpinned by the oil-price rebound. Although Brexit-led uncertainty continues to weigh on the investors’ minds.

ASX 200 drags rest of Asia lower

The Japanese benchmark index, the Nikkei 225 drops -0.33% to 15,259, finding support from USD/JPY climbing back on the bids above 102 handle. The Australian markets extend declines, with the ASX 200 index down -1.25% at 5,073.

The Chinese equities also track their Asian counterparts lower, with the benchmark Shanghai Composite index dropping -0.19% to trade below 2,900 levels; the CSI300 index also slides -0.29%. While, Hong Kong’s Hang Seng drops -1.04% to trade just ahead of 20k mark.