Asian markets extend slide, Nikkei 225 attempts minor-recovery

The Asian markets set-off the final trading day of the week on a weaker footing, extending losses from the previous session, as the Asian indices joined the global sell-off. The commodity shares traded sharply lower on the back of falling oil and copper as global growth concerns re-emerged, and therefore dragged the indices lower.

However, over the last hour, the Asian equities are looking to stabilize and now a minor-recovery amid thin markets, as China markets are closed in observance of the Dragon Boat Festival.

Nikkei recovers in tandem with USD/JPY

The Japanese benchmark index, the Nikkei 225 pares losses and now drops -0.55% to 16,580 levels, as USD/JPY trades +0.08% at 107.20. Australia’s ASX 200 index dives deep in the red, nearly -1% to 5,310.

Looking ahead, the looming Fed and BOJ meetings next week, followed by the vote on Britain’s membership in the European Union, will be closely eyed for fresh direction on the markets.