FXstreet.com (Barcelona) - Asian stock markets have started the week with losses after two weeks of continuous rally, as Japanese industrial output posted its fifth consecutive fall, and weighed by the fall of oil prices, furthermore, investors await the G20 meeting later this week.
Tokyo Nikkei Index has dropped 1.8% on the back of a 9.4% slid in February's industrial output; worse than the 9.2% fall expected, and following a 10.2% record slump in January. Hong Kong's Hang Seng Index has dropped 2.1% and South Korean Kospi Index dropped 1.0%.
Oil prices have dropped somewhat beyond $1 to $51.35 during Monday's Asian session per barrel, from levels around 52.38 on Friday, as investors rushed to profit taking.
Euro and Pound continue dropping; Yen picks up
The Euro has continued its free fall during Monday's Asian session, after a 350 pip collapse on Friday closing the week at 1.3290, the Euro has dropped further, despite a shy attempt to recovery, reaching levels at 1.3190 at late Asian session.
GBP/USD is following a similar figure, after a 250 pip decline on Friday, the Pound closed at 1.4320 to drop further in Asian session reaching levels at 1.4180 at the moment of writing.
The Yen has posted a considerable rally against the Dollar, from session highs at 98.35; the USD/JPY has dropped all the way to 96.75 in Asian session , although, at the time of writing, the Dollar has gained back some pips reaching 97.40.