That's reasson for investor caution as Asian share eased lower overnight joining lower oil prices. The Nikkei 225 dropped0.4%, the Kospi was off 0.6%, the Hong Kong Hang Send fell 0.9% and the Shanghai Composite Index shed 0.9%. The Australian ASX 200 remained flat.
The WSJ reported: Chinese stocks fell amid worries of rising risks in the country’s banking sector. Nonperforming loans surpassed $299.2 billion at the end of May, which increased banks’ bad-loan ratio to 2.15%, said Yu Xuejun, a senior Chinese banking regulator. The loans data swamped the good news that came Thursday after market close about China’s foreign-exchange reserves. The reserves in June rose $14 billion to $3.205 trillion, according to the People’s Bank of China, a surprise increase that suggests currency pressure is easing.
Anxiety in the market seems to be mobile, shifting one session from the Brexit fallout to other concerns another day with the U.S. jobs report for June's nonfarm payroll numbers coming after the Asian markets close. Gold slid lower overnight to $1,335.85.
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