Friday 16th October: Asian markets mixed on US fiscal stimulus

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Global Markets:

  • Asian Stock Markets : Nikkei down 0.41%, Shanghai Composite up 0.13%, Hang Seng up 0.93%, ASX down 0.54%
  • Commodities : Gold at $1914.25 (+0.28%), Silver at $24.49 (+1.10%), Brent Oil at $42.90 (-0.60%), WTI Oil at $40.78 (-0.44%)
  • Rates : US 10-year yield at 0.731, UK 10-year yield at 0.179, Germany 10-year yield at -0.618

News & Data:

  • (USD) Unemployment Claims 898K vs 810K expected
  • (USD) Philly Fed Manufacturing Index 32.3 vs 14.4 expected
  • CFTC Finalizes Position Limits Rule at October 15 Open Meeting
  • RBA Governor gives “Game Changer” speech

Markets Update:

Asian stock markets are mixed on Friday as uncertainty about new U.S. fiscal stimulus and the resurgence in coronavirus cases in Europe as well as the U.S. stoked concerns about a global economic recovery. An unexpected increase in U.S. weekly jobless claims further dampened sentiment.

Japan’s Nikkei 225 declined by 0.4%, while the Topix was down 0.9%. In Australia, the S&P/ASX 200 closed 0.5%. Mainland Chinese stocks were mixed by the close, with the Shanghai composite up 0.1%, while the Shenzhen component declined 0.7%. Over in Hong Kong, the Hang Seng index jumped 1% by the afternoon.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 93.764, jumping from levels above 93.4 the previous day. Oil prices were weighed by concerns about the coronavirus and its impact on the world economy.

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