Tuesday 27th November: Asian markets put up a brave face – await outcomes of Trump Jinping meet.

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IC Markets Market Review
IC Markets Market Review

Global Markets:

  • Asian Stock Markets : Nikkei up 0.81%, Shanghai Composite down 0.25%, Hang Seng down 0.34%, ASX up 1.00%
  • Commodities : Gold at $1227.50 (-0.11%), Silver at $14.32 (-0.07%), Brent Oil at $60.26 (-0.50%), WTI Oil at $51.29 (-0.58%)
  • Rates : US 10-year yield at 3.054, UK 10-year yield at 1.412, Germany 10-year yield at 0.358

News & Data:

  • (NZD) Trade Balance -1295M vs -850M expected
  • (CNY) CB Leading Index m/m 1.20% vs 1.00% previous
  • (GBP) High Street Lending 39.7K vs 38.9K expected
  • (EUR) German Ifo Business Climate 102 vs 102.3 expected
  • Italy Deficit Target ‘Almost Certainly’ To Be 2.2%: Messaggero
  • PBOC set the yuan reference rate at 6.9463

Markets Update:

Asian stock markets are mixed on Tuesday following the positive cues from Wall Street and a rebound in crude oil prices. Some of the markets have pared gains on worries about U.S.-China trade tensions after U.S. President Donald Trump said in an interview with the Wall Street Journal that it was “highly unlikely” he would delay an increase in tariffs on Chinese goods to 25 percent from 10 percent.

Greater China markets retraced most of their earlier losses: The Taiex, which measures the performance of aggregate listed stocks on the Taiwan stock exchange, traded near flat, after being down 0.7 percent. Hong Kong’s Hang Seng Index is trading lower by 0.3%, while the Shanghai composite is down 0.25%.

Australia’s benchmark ASX 200 see-sawed between gains and losses before jumping 1 percent late in the session. Japan’s Nikkei 225 rose 0.8 percent, while the Topix index added 0.7 percent. South Korea’s Kospi rose 0.8 percent.

In commodity markets, oil prices laboured with record production by Saudi Arabia. Oil had climbed nearly 3 percent on Monday but that was seen as largely a technical correction after weeks of heavy losses, driven both by oversupply and demand worries.

Upcoming Events:

  • Tentative – (All) OPEC-JMMC Meetings
  • 02:30 PM GMT – (USD) FOMC Member Clarida Speaks
  • 04:00 PM GMT – (USD) CB Consumer Confidence
  • 08:30 PM GMT – (USD) FOMC Member Bostic Speaks
  • 09:00 PM GMT – (NZD) RBNZ Financial Stability Report
  • 11:00 PM GMT – (NZD) RBNZ Gov Orr Speaks
  • &more…

 

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