Global Markets:
- Asian Stock Markets : Nikkei up 0.13%, Shanghai Composite up 0.24%, Hang Seng up 0.13% ASX down 0.38%
- Commodities : Gold at $4,522.25 (0.37%), Silver at $72.313 (1.65%), Brent Oil at $62.49 (0.18%), WTI Oil at $58.49 (0.19%)
- Rates : US 10-year yield at 4.158, UK 10-year yield at 4.5110, Germany 10-year yield at 2.8647
News & Data:
- (CAD) GDP m/m -0.3% to -0.3% expected
- (USD) Prelim GDP q/q 4.3% to 3.3% expected
Markets Update:
Asian stock markets are showing a mixed performance on Wednesday, with trading volumes remaining thin across most of the region as several markets are set to close early today and remain shut on Thursday for the Christmas holiday. Positive cues from Wall Street have helped limit losses, after the S&P 500 closed at a record high overnight, supported by stronger-than-expected U.S. third-quarter GDP growth data.
The Australian market is trading lower, weighed down mainly by weakness in banking stocks. The session will end early at 2:10 p.m. local time, with markets closed on Thursday and Friday for Christmas and Boxing Day. The S&P/ASX 200 Index is down 0.38 percent at 8,762.70, while the broader All Ordinaries Index is lower by about 0.3 percent at 9,069. Major banks including National Australia Bank, Westpac, Commonwealth Bank and ANZ Bank are all trading in negative territory, losing between 0.4 and 1 percent. Mining stocks are providing some support, helped by firmer metal prices, with BHP, Fortescue Metals and Rio Tinto posting gains. Shares of Monash IVF plunged more than 11 percent after a consortium withdrew its takeover offer.
Japanese equities are trading modestly higher, although gains are capped by expectations of further interest rate hikes by the central bank. The Nikkei 225 is up about 0.1 percent, with strong gains in select metal, technology and electronics stocks.
Elsewhere in the region, China’s Shanghai Composite is up 0.16 percent, Hong Kong’s Hang Seng is gaining around 0.15 percent, and South Korea’s KOSPI is marginally higher. New Zealand stocks are slightly higher, while markets in Singapore, Malaysia and Indonesia are trading weaker.
Upcoming Events:
- 01:30 PM GMT – USD Unemployment Claims
