Asian stocks outside Japan turn positive

The stocks on the Asian bourses snapped initial losses and staged a minor-recovery attempt amid a slight improvement in the risk sentiment. Moreover, oil prices turned into the positive territory, which offered fresh support to the energy and resource stocks on the indices.

The Asian equities retreated from three-month tops in early trades this Wednesday, tracking the negative close on its Wall Street counterpart and on weaker global growth outlook, while a stronger yen also weighed on the Japanese stocks.

Japan’s stocks keep the red

The Japanese benchmark index, the Nikkei 225 remains in the red, down -0.82% near 16,580, pressured by a weaker USD/JPY, dropping -0.19% on the day. The Australian markets bounces, with the S&P/ASX 200 now up +0.40% to 5,470 points.

The Chinese equities also swing to gains, with the benchmark Shanghai Composite index up 0.18%; the CSI300 index gains +0.08%. While Hong Kong markets trade 0.52% higher around 21,800 levels.