Asia Sells Off on Fears of Japanese Contraction

The NIKKEI is still up 4%+. However, most Asian markets, led by Hong Kong (-0.5%) are weakening due to fears that weak Japanese end user demand will crush their economies. Most south Asian economies depend heavily on Japan, being a main destination for their low quality shit. For example, Japan makes up 13% of Thailand’s export market.

It’s worth noting, Japanese futures are up just 2%, indicating a drop of 2% is in the cards when those lazy bastards come back from lunch.

U.S. futures are down 3.80 at the moment.