Thursday 15th October: Asian markets falter

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Global Markets:

  • Asian Stock Markets : Nikkei down 0.51%, Shanghai Composite down 0.26%, Hang Seng down 2.28%, ASX up 0.50%
  • Commodities : Gold at $1903.75 (-0.19%), Silver at $24.21 (-0.77%), Brent Oil at $43.08 (-0.55%), WTI Oil at $40.81 (-0.56%)
  • Rates : US 10-year yield at 0.704, UK 10-year yield at 0.195, Germany 10-year yield at -0.611

News & Data:

  • (AUD) Unemployment Rate 6.90% vs 7.00% expected
  • (AUD) Employment Change -29.5K vs -38.0K expected
  • (USD) PPI m/m 0.40% vs 0.20% expected
  • (USD) Core PPI m/m 0.40% vs 0.20% expected
  • China says U.S. undermines Taiwan Strait’s stability

Markets Update:

Asian stock markets are mostly lower on Thursday following the weak cues overnight from Wall Street amid fading hopes of U.S. fiscal stimulus before next month’s presidential election. The continued surge in coronavirus cases and fresh lockdown restrictions in parts of Europe also dampened sentiment.

Mainland Chinese stocks were lower by the afternoon, with the Shanghai composite lower 0.3% while the Shenzhen component was lower by 0.1%. Hong Kong’s Hang Seng index dropped 1.3%. Shares in Australia edged higher, with the S&P/ASX 200 gaining 0.5%. Japan’s Nikkei 225 declined 0.6% and the Topix index shed 0.8%.

Oil prices rose slightly after U.S. crude stockpiles fell last week, adding to 2% gains overnight, as OPEC and its allies were seen fully complying in September with their pact to curb output.T

TheU.S. dollar index, which tracks the greenback against a basket of its peers, was at 93.422 following an earlier decline this week from levels around 93.6.

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