Asian stocks ex-China weaker on final trading day of 2016

The sentiment around the Asian markets remains largely subdued, with most Asian traders having closed their desks and set-off to celebrate the New-Year holiday break.

Further, the Asian stocks extend its weakness today, as a profit-taking spree continues on the last trading day of 2016. Additionally, a weaker close on the Wall Street overnight also weighed on the investors’ sentiment.

The Japanese stocks also keep the red amid broad based US dollar weakness, which continues to underpin the yen. The USD/JPY pair dropped as low as 116.05 in early trades, before recovering some ground to now trade around 116.70 levels.

The Japanese Nikkei 225 index trades marginally lower around 19,130 levels. The Australian benchmark, ASX 200 index trades -0.58% lower around 5,665 points. Mainland Chinese markets traded modestly, with the Shanghai composite up +0.07% while the Shenzhen composite gains +0.10%. Hong Kong's Hang Seng rally +0.80%.