Market Drivers – Asian Session 27-10-2021

The Nikkei index fell eight points to close at 29,098.24 points, maintaining most of the gains it made in the past days, which amounted to about 500 points. The index had fallen earlier today to 28,870.25 points.

But the broader Topix index fell 0.23 percent to 2013.81 points.

In a few minutes, the cryptocurrency market lost nearly $165 billion, bringing the market value down from levels near $2.614 trillion to below $2.45 trillion.

The US dollar fell in early European trade on Wednesday, while the Australian dollar lost some of its gains after it jumped after surprisingly strong inflation data raised chances of a sooner-than-expected interest rate hike. The dollar index recorded 93.877, down less than 0.1 percent.

Brent crude futures fell 94 cents, or 1.1 percent, to $85.46 a barrel, after hitting a seven-year closing high on Tuesday.

US West Texas Intermediate crude fell $1.02, or 1.2 percent, to $83.63 a barrel, after increasing by 1.1 percent in the previous session.