Tuesday 29th September: Asian markets mixed as investors look to US presidential debate

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Global Markets:

  • Asian Stock Markets : Nikkei up 0.12%, Shanghai Composite up 0.21%, Hang Seng down 1.14%, ASX up 0.00%
  • Commodities : Gold at $1884.45 (+0.11%), Silver at $23.71 (+0.44%), Brent Oil at $42.54 (-0.77%), WTI Oil at $40.25 (-0.86%)
  • Rates : US 10-year yield at 0.651, UK 10-year yield at 0.194, Germany 10-year yield at -0.537

News & Data:

  • (EUR) Spanish Flash CPI y/y -0.40% vs -0.40% expected
  • (JPY) Tokyo Core CPI y/y -0.20% vs -0.30% expected
  • CFTC Orders Three Citibank Affiliates to Pay $4.5 Million for Supervision Failures

Markets Update:

Asian stock markets are mostly higher on Tuesday following the overnight rally in U.S. as well as European markets and on optimism about a new U.S. coronavirus relief bill after House Speaker Nancy Pelosi said a new package is still possible. Nevertheless, investors remained cautious ahead of the first U.S. presidential debate set to take place later today.

Mainland Chinese stocks were higher, with the Shanghai composite up 0.2% while the Shenzhen component added 0.8%. The Hang Seng index in Hong Kong dipped 0.3%. Over in Japan, the Nikkei 225 advanced 0.1% while the Topix index fell 0.2%. In South Korea, the Kospi rose 1%. Australia’s S&P/ASX 200 traded at the flatline.

The U.S. dollar dropped from a two-month high against a basket of currencies Monday, with the dollar index falling 0.3%, its biggest daily percentage drop in roughly three weeks. Bonds were broadly steady. The yield on benchmark 10-year U.S. government debt fell further to 0.625%.

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