FXstreet.com (Barcelona) - Asian stock markets have opened the week with losses, after being mixed in the first hours of trading, as investors fear that the global economic slowdown has not bottomed yet. Euro and Pound have weakened against the Dollar.
Japanese Nikkei Index has edged down 0.7% on Monday, while stock indexes in China India and Taiwan dropped about 1:%. Australian S&P Index and South Korean Kospi Index have risen 1.1%. Hong Kong's Hang Seng Index has dropped 2%.
Financials have been again the most seriously affected, on concerns that banks have not yet gathered enough capital to face their enormous losses. HSBC drop more than 10% in Hong Kong trade.
Euro and Pound slightly down; Yen in range
The Euro has lost almost 100 pips during the Asian trading hours, from a session high at 1.2727 the Euro has dropped to test support line at 1.2635.
The Pound has followed a similar pattern, after a slight increase during Asian opening times, the Pound has reached a session high at 1.4182 to drop afterwards all the way to test support areas at 1.4070/80.
The USD/JPY has remained steady in the range between 97.95 to 98.35, after recovery on Friday from 7-day low at 96.57