Asian markets struggle ahead of Brexit
On Wednesday, stocks in Hong Kong and Japan struggled while financial markets elsewehre were quite subdued because market participants didn’t want to execute big trades ahead of Britain’s vote whether this country should leave the European Union or not.
The Nikkei Stock Average sagged 0.9%. Meanwhile, the Hang Seng Index went down 0.6%. The Shanghai Composite Index grew 0.2%, Australian S&P ASX 200 stood still. As for South Korean Kospi, the given benchmark leapt 0.2%.
This week stocks in Asia have recovered as according to recent surveys, the UK tilting toward a verdict to stay in the European Union. However, investors are quite mindful of surprises, which could potentially bring stocks down.
Large institutions are reluctant to make a big bets on the upcoming vote. It’s because it’s a solely binary verdict, as some financial analysts state.
More surveys on the referendum are supposed to be conducted before Thursday’s referendum. Market participants are already expecting results on Friday morning.