Trade Tips with Asia Stock Markets Tumble

UK pound falls under $1.28; Asia stock markets tumble

Markets in Asia were sharply lower on Wednesday, as investors scurried into safe-haven plays on global growth concerns, sending bond yields to record lows. Renewed Brexit jitters also sent the British pound tumbling to a fresh 31-year low. The British pound dropped to a fresh 31-year low early Wednesday amid Brexit concerns, trading at USD 1.2860 as of 11:04 a.m. HK/SIN, after dropping as low as USD 1.2796 earlier.
Asia MarketJapan’s Nikkei 225 dropped 2.96 percent, after earlier tumbling some 3.2 percent on the back of fresh yen strength. The Japanese yen, a safe-haven asset, traded at 100.71 against the dollar as of 11:04 a.m. HK/SIN, compared with levels near 103 on Friday.
Gold prices advanced, with spot gold up 0.88 percent at USD 1,367.56, compared with levels near USD 1,320 in the previous week.

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