Global Markets:
- Asian Stock Markets : Nikkei up 0.04%, Shanghai Composite down 1.23%, Hang Seng up 0.05%, ASX up 0.30%
- Commodities : Gold at $1303.55 (-0.44%), Silver at $15.37 (-0.58%), Brent Oil at $67.72 (+0.25%), WTI Oil at $58.37 (+0.19%)
- Rates : US 10-year yield at 2.630, UK 10-year yield at 1.200, Germany 10-year yield at 0.074
News & Data:
- (CNY) Industrial Production y/y 5.30% vs 5.50% expected
- (CNY) Fixed Asset Investment ytd/y 6.10% vs 6.10% expected
- (GBP) Parliament Brexit Vote Reject vs Reject expected
- (USD) Durable Goods Orders m/m 0.40% vs -0.50% expected
- (USD) Core PPI m/m 0.10% vs 0.20% expected
- (USD) PPI m/m 0.10% vs 0.20% expected
- (USD) Core Durable Goods Orders m/m -0.10% vs 0.10% expected
- Trump says he might walk away from China trade talks
Markets Update:
Asian stocks were mostly flat on Thursday as the risk of a no-deal Brexit receded and modest U.S. inflation numbers further supported the case for the Federal Reserve to hold off on raising rates. The upside, however, remained limited as investors digested a slew of mixed economic data from China.
Chinese shares were in the red after data showed the country’s industrial output expanded at the slowest pace in 17 years, although retail sales and fixed asset investment grew by more than expected. The Shanghai composite fell 1.2 percent while the Shenzhen composite tumbled 2.2 percent.
The Nikkei 225 in Japan eased most of its gains to trade flat while the Topix index lost 0.2%. In South Korea, the Kospi is trading 0.3% higher. Hong Kong’s Hang Seng Index traded flat. Down under, the ASX 200 seesawed to trade higher by 0.3%.
The dollar index hovered near a seven-day trough hit after the inflation data against a basket of major currencies Against the Japanese yen, the greenback gained slightly to 111.44. Oil held near a four-month high in Asian trade as traders shifted focus to global production cuts and supply disruptions in Venezuela.
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