February 9, 2023

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Nikkei 225 closes lower by 2.03% at 28,508.55

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A rough day for Asian equities in general

The Topix also closes down by 2%, so that could very well prompt the BOJ to step in with ETF purchases as we see Japanese indices fall towards the March lows and treading water around their respective 100-day moving averages as of the close.

Elsewhere, the Hang Seng is down 1.7% but mainland Chinese stocks are able to buck the trend with the Shanghai Composite seen up 0.2%.

The latter had their fair share of worries amid the whole Huarong saga and are taking some comfort for now as those concerns recede in the past few days.

Looking over to US futures, S&P 500 futures are down 0.2%, Nasdaq futures down 0.4%, and Dow futures down 0.1% to start European morning trade.

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