Nikkei 225 slips amid risk-aversion, China bucks the trend

The stocks on the Asian bourses tracked its Wall Street peers lower as sentiment soured after the Deutsche bank jitters spread into Asia this Friday. Deutsche Bank shares slumped to a record low after a report that trading clients had withdrawn excess cash and positions held in the largest German lender.

While fresh selling in oil prices on the back of profit-taking, weighed on the energy stocks and therefore, added to the downbeat sentiment.

The Japanese stocks lead the Asian markets decline, with the Japanese yen finding fresh buyers amid increased demand for safe-haven. While poor Japan’s CPI report also weighs on the investors’ sentiment. Meanwhile, USD/JPY drops -0.06% to 100.97, as the yen jumps back on the bids across the board.

The Chinese stock markets ditch their Asian counterparts and trade higher, as the bulls cheer a slightly upbeat Caixin Chinese manufacturing PMI report.

Meanwhile, Japan’s Nikkei 225 now drops -1.55% to 16,435, the Australian S&P/ASX 200 slumps -0.81% to 5426, while the Chinese equities trade higher, with the benchmark Shanghai Composite index gaining +0.21%, while CSI300 index rises +0.33%. Hong Kong markets dive -1.42% to trade around 23,400 levels.