Asia risk-off extends on Brexit woes, ASX 200 tanks -2%

Risk-off sentiment continues to dominate the Asian markets for the second day today, with investors spooked by intensifying Brexit fears after the latest UK’s EU referendum polls revealed vote-favouring the Leave campaign with significant lead.

Moreover, renewed weakness in the oil prices also hurt the energy sector stocks, while a relatively stronger yen weighs negatively on the exports-oriented stocks on the region’s indices.

ASX 200 leads Asia sell-off

The Japanese benchmark index, the Nikkei 225 extends sell-off and now dives -1.25% to trade below 16k levels, as USD/JPY surrenders 106 handle once again, losing -0.24%. The Australian markets ignored upbeat Aus NAB business conditions data, as weaker oil prices weighed on the resource, mining and energy stocks. The ASX 200 index slumps -1.95% to 5,211 levels.

While the Chinese equities ditched their Asian peers and traded modestly higher, with the benchmark Shanghai Composite index gaining +0.08%, the CSI300 index trades +0.15%. Hong Kong’s Hang Seng trades muted above 20,500 points.