Asian markets closed the session mixed with a tendency towards the red zone. Japan’s benchmark index, Nikkei 225, was down by 0.12 percent in early trade; the Topix went lower by almost the same level. In Korea, the Kospi index slipped also by 0.12 percent. Australia’s S&P/ASX 200 started positively with the index going up by 0.22 percent. Its energy stocks climbed by 1.4 percent and contributed to most of the gains. Investors are currently turning their attention to the Federal Reserve’s two-day policy meeting late in the week.
Bitcoin prices sharply dropped to $7000 in less than three hours during the previous trading session. The cryptocurrency hit a new low of $7,335.57 earlier before recovering back to $8,000. Traders were uncertain of what caused the late drawback. Apparently, another possible bitcoin ban was the responsible for the weakness felt during the weekend.
Bitcoin began its fall from $11,000 two weeks ago following a statement by the SEC that expanded its scrutiny to cryptocurrency exchanges and, also, due to news of a compromised account at a major Hong Kong-based exchange, Binance.