Trading day in one post 04.03.2016

04.03.2016 / 09:24

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Major Asian markets lost their positive momentum on Friday, largely ignoring another upward finish on Wall Street overnight.

Japan's benchmark Nikkei 225 was flat, while South Korea's Kospi was down 0.14 percent. Chinese markets were also lower, with the Shanghai composite down 1.36 percent and the Shenzhen composite lower by 3.67 percent.

"There is an air of fatigue from the bulls in a number of developed equity markets, but they continue to grind higher," wrote Chris Weston, chief market strategist at IG.

Weston added, "We have not yet reached the point where the market internals are highly suggestive of contrarian short positions. But the market is in need of some injection of new news to provide an injection of inspiration and cause a new leg higher. It seems unlikely this inspiration comes from today's U.S. payrolls."

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Trading day in one post 04.03.2016

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