- Asian Stock Markets : Nikkei up 0.02%, Shanghai Composite up 0.81%, Hang Seng down 0.32%, ASX down 0.83%
- Commodities : Gold at $1296.55 (+0.10%), Silver at $15.10 (0.00%), Brent Oil at $69.29 (-0.03%), WTI Oil at $62.38 (-0.13%)
- Rates : US 10-year yield at 2.515, UK 10-year yield at 1.096, Germany 10-year yield at 0.008
News & Data:
- (USD) ISM Non-Manufacturing PMI 56.1 vs 58.1 expected
- (USD) ADP Non-Farm Employment Change 129K vs 184K expected
- (GBP) Services PMI 48.9 vs 51 expected
- Japan policymakers shun ‘Modern Monetary Theory’ as dangerous
- Moody’s: Asia’s Credit Fundamentals Will Show A Rise In Vulnerabilities
Asian stock markets are mixed on Thursday despite the overnight gains on Wall Street, amid optimism that the U.S. and China are closer to a trade deal that would put an end to their ongoing trade war. Investors in some of the markets booked profits after recent gains. According to a white House schedule, U.S. President Donald Trump plans to meet with Chinese Vice Premier Liu He, who is in Washington for trade talks, later in the day.
Mainland Chinese shares ended the morning session higher, as the Shanghai composite added 0.8% and the Shenzhen component rose about 0.6%. Over in Hong Kong, however, the Hang Seng index declined 0.3%. The Nikkei 225 in Japan was largely flat, while the Topix was lower by 10 bps. The Australian market declined by 0.8% after seven straight days of gains with stocks lower across the board.
The lower house of Britain’s parliament late on Wednesday also narrowly passed legislation which would force May to seek a delay to Brexit in order to prevent the risk of leaving without a deal on April 12.
Moves in the currency market were miniscule after bigger swings overnight. All the major currencies gained on the safe-haven yen with the risk-sensitive Australian dollar touching a five-week high.
- 12:30 PM GMT – (EUR) ECB Monetary Policy Meeting Accounts
- 03:00 PM GMT – (CAD) Ivey PMI