Asian stocks ex-China drop amid Oil-led risk-off

The Asian stocks kicked-off a brand new week on a bearish note, after last week’s impending decision on OPEC’s output cut agreement left markets in a tizzy and crushed investors’ appetite for risky assets such as equities.

While on the other hand, increased demand for the safe-haven yen in times-of market unrest, also weighed down on the sentiment around the exports-oriented stocks. Meanwhile, USD/JPY sinks -1.57% to around 111.40 levels, having eroded almost 200-pips so far.

The Australian markets also remain on the back foot, as investors remain cautious ahead of a series of key macro events from the OZ economy due later this week, while OPEC-related news flow will also have a significant impact on the region’s index.

However, the Chinese equities bucked the trend and edged higher on the back of continued yuan weakness and upbeat Chinese industrial profits data.

Meanwhile, Japan’s Nikkei 225 drops -0.84% to 18,230, the Australian S&P/ASX 200 dip -0.38% to 5,486. The Chinese equities trade slightly higher, with the benchmark Shanghai Composite index up +0.46%, while CSI300 index ticks +0.68% higher. Hong Kong markets rise +0.57% to 22,860 levels.