Asian equities are mostly trading lower on the day
Japanese stocks are more of the exception today as they recovered from earlier losses with the Nikkei having being down by 1% at one point, helped by a rebound in tech stocks. The rebound sees the Nikkei close above both its 100 and 200-day moving average.
The less dovish-than-expected Fed is certainly the main factor playing into sentiment here but weak data from China and an eight consecutive decline in South Korean exports (often a bellwether for the global economy) added to the gloomy mood.
The Hang Seng and Shanghai Composite are both down by 0.9% currently. US futures and European futures are also looking a little softer but is doing little to influence sentiment in currencies as we begin the European morning.
