Tuesday 11th January 2022 : Asian markets mixed as omicron curbs continue to dampen sentiment.

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Global Markets:

  • Asian Stock Markets : Nikkei down 0.90%, Shanghai Composite down 0.73%, Hang Seng up 0.79%, ASX up 0.02%
  • Commodities : Gold at $7390.10 (-0.77%), Silver at $1808.75 (+0.55%), Brent Oil at $22.66 (+0.89%), WTI Oil at $78.96 (+0.93%)
  • Rates : US 10-year yield at 1.759, UK 10-year yield at 1.190, Germany 10-year yield at -0.035

News & Data:

  • (JPY) Leading Indicators 103.00% vs 102.90% expected
  • (AUD) Trade Balance 9.42B vs 10.50B expected
  • (AUD) Retail Sales m/m 7.30% vs 3.50% expected
  • (GBP) BRC Retail Sales Monitor y/y 0.60% vs 0.30% expected
  • (USD) Final Wholesale Inventories m/m 1.40% vs 1.20% expected
  • (EUR) Unemployment Rate 7.20% vs 7.20% expected
  • (EUR) Sentix Investor Confidence 14.9 vs 12.6 expected
  • (EUR) Italian Monthly Unemployment Rate 9.20% vs 9.30% expected

Markets Update:

Asian stock markets are trading mixed on Tuesday, following the mixed cues from Wall Street overnight, amid a drop in crude oil prices and as traders remain concerned and cautious over the surging cases of the coronavirus Omicron variant in several countries, including the U.S., and its impact on the global economy.

The Australian stock market is trading notably lower on Tuesday, extending the slight losses in the previous session, as traders remain concerned over the rapid rise in domestic Covid-19 cases, with the tally of infections surpassing 1 million on Monday, and its impact on the economy. Materials and energy stocks are down on weak commodity prices.

The Japanese stock market is significantly lower on opening after a holiday. South Korea’s Kospi wavered between gains and losses before finishing near flat. Chinese mainland shares lost momentum and major indexes slipped. 

The U.S. dollar dipped 0.11% to 95.890 against a basket of its peers, withdrawing from its previous close at 95.991. Oil prices rose during Asian trading hours, with U.S. crude adding 0.55% to $78.66 a barrel while global benchmark Brent added 0.4% to $81.19. Prices fell in the previous session on the back of demand worries amid a rise in global Covid cases.

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