Friday 20th September: Asian markets modestly higher despite mixed cues.

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Global Markets:

  • Asian Stock Markets : Nikkei up 0.09%, Shanghai Composite up 0.19%, Hang Seng up 0.15%, ASX up 0.27%
  • Commodities : Gold at $1512.75 (+0.43%), Silver at $17.97 (+0.50%), Brent Oil at $64.69 (+0.45%), WTI Oil at $58.62 (+0.74%)
  • Rates : US 10-year yield at 1.772, UK 10-year yield at 0.636, Germany 10-year yield at -0.512

News & Data:

  • (CHF) SNB Policy Rate -0.75% vs -0.75% expected
  • (GBP) Retail Sales m/m -0.20% vs -0.20% expected
  • (GBP) MPC Official Bank Rate Votes 0-0-9 vs 0-0-9 expected
  • (GBP) Official Bank Rate 0.75% vs 0.75% expected
  • (GBP) Asset Purchase Facility 435B vs 435B expected
  • (GBP) MPC Asset Purchase Facility Votes 0-0-9 vs 0-0-9 expected
  • (USD) Philly Fed Manufacturing Index 12 vs 10.9 expected
  • China cuts short-term interest rates slightly in latest bid to help companies hit by US trade war
  • Japan Inflation Hits 2-Year Low as BOJ Stokes Easing Speculation

Markets Update:

Asian stock markets are mostly higher on Friday despite the mixed cues overnight from Wall Street amid continued uncertainty about the outlook for interest rates following the U.S. Federal Reserve’s monetary policy announcement on Wednesday. Gains are modest in most markets as investors digested news that the U.S. and Chinese deputy trade negotiators have resumed face-to-face talks for the first time in almost two months on Thursday.

The Australian market is extending gains from the previous session. The ASX 200 is trading higher by 0.3%.  Mainland Chinese stocks were higher by the afternoon, with the Shanghai composite and Shenzhen component 0.2% higher. The Shenzhen component was almost 0.1% higher. Hong Kong’s Hang Seng index was largely flat. Elsewhere, the Nikkei 225 in Japan gave up initial gains to trade higher by 0.1%. The Topix index turned slightly negative after opening in the green. Japan’s core consumer inflation slowed to a new two-year low in August, rising 0.5% in August from a year earlier, and slowing from a 0.6% gain in July.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 98.243 after slipping from levels above 98.4 yesterday. The Japanese yen traded at 107.86 against the dollar after strengthening from levels above 108.3 in the previous session.

Oil prices rose in the afternoon of Asian trading hours, with U.S. crude futures jumping to $58.62 per barrel and Brent crude futures to $64.69 per barrel.

Upcoming Events:

  • 12:15 PM GMT – (USD) FOMC Member Williams Speaks
  • 12:30 PM GMT – (CAD) Core Retail Sales m/m
  • 12:30 PM GMT – (CAD) Retail Sales m/m
  • 03:20 PM GMT – (USD) FOMC Member Rosengren Speaks
  • &more…


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