Nikkei 225 closes higher by 0.71% at 29,384.52

The Nikkei closes higher but loses most of its shine in the final hour

Nikkei

It is a similar case for other Asian equities with the Hang Seng turning lower by 0.4% while the CSI 300 index is also flat on the day after having gained by 1% earlier.

The late drop comes amid a tumble in US futures, after Credit Suisse joined Nomura in warning of “significant and material” impact from “a US-based hedge fund defaulting on margin calls”; note the Archegos Capital liquidation news here.

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In FX, the dollar and yen are holding slight gains with commodity currencies trailing but ranges are still somewhat narrower for the time being at least.

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