Stock slump worsens in Asia as Iran sinks crude while yuan gains

January 18, 2016 6:33 AM

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Stock slump worsens in Asia as Iran sinks crude while yuan gains

WELLINGTON — Markets started the week gripped by a fresh bout of risk aversion, as Asian stocks slipped with energy-linked currencies amid further hemorrhaging in crude oil prices. Demand for haven assets supported government debt and gold.

Japan’s Nikkei 225 Stock Average was on the cusp of a bear market as Chinese shares fluctuated. Sovereign bonds in the region climbed, and the cost of protecting against corporate defaults in Australia rose to a three-year high. Brent crude dipped below US$28 (S$40.3) a barrel, with Nomura Holdings ...

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