23rd September Friday 2022: Asian markets continue in Red

IC Markets No Comments

Global Markets:

  • Asian Stock Markets : Nikkei down 0.58%, Shanghai Composite down 0.41%, Hang Seng down 0.74%, ASX down 1.87%
  • Commodities : Gold at $1681.65 (+0.03%), Silver at $19.70 (+0.42%), Brent Oil at $90.03 (-0.48%), WTI Oil at $83.06 (-0.52%)
  • Rates : US 10-year yield at 3.707, UK 10-year yield at 3.531, Germany 10-year yield at 1.974

News & Data:

  • (USD) Unemployment Claims 213K vs 220K expected
  • (GBP) Official Bank Rate 2.25% vs 2.25% expected
  • (GBP) MPC Official Bank Rate Votes 9-0-0 vs 9-0-0 expected
  • (CHF) SNB Policy Rate 0.50% vs 0.50% expected

Markets Update:

Asian stock markets are a sea of red on Friday, following the broadly negative cues from global markets overnight, amid continuing concerns about the impending recession and the global economic outlook following the recent aggressive interest rate hikes by the US Fed and other major central banks. Asian markets ended mostly lower on Thursday.

In Australia, the S&P/ASX 200 fell 2.3% to its lowest levels since July on its return to trade after a holiday on Thursday. South Korea’s Kospi dipped 1.8% and the Kosdaq declined 2.5%. Hong Kong’s Hang Seng index lost 0.85%. Mainland China stocks were also lower, with the Shanghai Composite shedding 1.1% and the Shenzhen Component losing 1.8%.

Crude oil prices settled higher on Thursday on concerns about tight supplies amid geopolitical tensions in Russia. Gold, which pays no income, has suffered as U.S. yields have gone up and it was last flat at $1,669 an ounce.

Upcoming Events:

  • 07:15 AM GMT – (EUR) French Flash Services PMI
  • 07:15 AM GMT – (EUR) French Flash Manufacturing PMI
  • 07:30 AM GMT – (EUR) German Flash Manufacturing PMI
  • 07:30 AM GMT – (EUR) German Flash Services PMI
  • 08:30 AM GMT – (GBP) Flash Manufacturing PMI
  • 08:30 AM GMT – (GBP) Flash Services PMI
  • 12:30 PM GMT – (CAD) Core Retail Sales m/m
  • 12:30 PM GMT – (CAD) Retail Sales m/m
  • 01:45 PM GMT – (USD) Flash Services PMI
  • 01:45 PM GMT – (USD) Flash Manufacturing PMI
  • 03:30 PM GMT – (CHF) SNB Chairman Jordan Speaks
  • 06:00 PM GMT – (USD) Fed Chair Powell Speaks