Asian stocks trim losses, down for a 5th day

The Asian equity markets are seen reversing early losses and remain on a steady recovery path, after having dropped for a fifth day today, as markets turn nervous amid ongoing chatter that the global central banks are gradually looking to move away from accommodative policies.

Most Asian indices attempt a tepid-recovery as a bounce in oil and metals’ prices underpin the sentiment around resource and mining stocks. While volatility appears to have somewhat eased offering some respite to the stock markets.

Moreover, a round of profit-taking cannot be ruled out as markets readjust their positions, with the Chinese markets closed for holidays Thursday and Friday. 

Meanwhile, the Japanese benchmark index, the Nikkei 225 trades -0.25% lower at 16,688. The Australian S&P/ASX 200 flips to gains at 5,214, up +0.13% on the day.

The Chinese equities keep losses; with the benchmark Shanghai Composite index declining -0.45%, the CSI300 index loses -0.45%. While Hong Kong markets advance +0.45% to 23,333 points.