FXstreet.com (Barcelona) - Asian stock markets have posted losses on Thursday's session on the back of widespread hesitation about the U.S. Bank plan being appropriate to reactivate the troubled financial system.
Tokyo Nikkei Index has lost 0.3% despite gains on Japanese exporters, such as Honda and Nikon, whose shares have appreciated on the back of a weaker Yen, the Japanese currency has lost 9% of its value against the Dollar in the last two weeks as Japanese economy starts to show signs of stagnation.
Hong Kong's Hang Seng Index has dropped 0.8% and South Korean Kospi Index declined 1.3%. Hours before, Wall Street closed its Wednesday's session with losses, Dow Jones fell 1.1% as well as the S&P Index.
The Yen continues depreciating; Euro and Pound steady after Wednesday's sell-off
The USD/JPY has extended losses during Thursday's Asian session, from session lows of about 97.30, the Dollar has climbed up to a maximum of 97.98 and the pair has tried to break the 98.00 resistance level, although it has not happened yet, and the Dollar has setback some pips towards the 97.80 area.
Euro and Pound have opened a consolidation period after yesterday's decline, in the case of the Sterling, support level at 1.4170 has proved strong enough to hold the Pound's decline from 1.4600, and the pair has climbed towards the 1.4300 resistance area, but the Sterling is not strong enough and is returning towards the 1.4170 level.
The Euro has moved in a range from minimum levels at 1.2690/1.2700 to session high at 1.2760, a resistance level that has proved to strong so far.