Global Markets:
- Asian Stock Markets : Nikkei up 3.84%, Shanghai Composite down 0.61%, Hang Seng down 0.47%, ASX up 1.88%
- Commodities : Gold at $1271.15 (+0.11%), Silver at $15.06 (-0.30%), Brent Oil at $54.45 (-1.52%), WTI Oil at $45.88 (-1.57%)
- Rates : US 10-year yield at 2.788, UK 10-year yield at 1.259, Germany 10-year yield at 0.250
News & Data:
- (USD) Richmond Manufacturing Index -8 vs 16 expected
- (USD) S&P/CS Composite-20 HPI y/y 5.00% vs 4.80% expected
- (JPY) BOJ Core CPI y/y 0.50% vs 0.60% expected
- BOJ Kuroda: Keep Easy Policy for 2% Target & Watch Costs
- US tariffs will hit China harder next year, analysts say
Markets Update:
Asian shares on Thursday rode a dramatic surge on Wall Street as markets, hammered by a recent drum roll of deepening political and economic gloom, cheered upbeat U.S. data and the Trump administration’s effort to shore up investor confidence.
The Shanghai Composite and the Shenzhen Component both slipped 0.6%. Hong Kong’s Hang Seng Index was also down 0.5%. The fall in Chinese stocks came after data showed the country’s industrial profits fell 1.8% to 594.8 billion yuan in November from a year earlier. The decline was due to slowing growth in sales and producer prices, and rising costs, He Ping of the statistics bureau said in a statement accompanying the data.
Japan’s Nikkei 225, which has veered in and then out of bear market territory this week, surged 3.8 percent in afternoon trade while the Topix jumped 4.9 percent as the two indexes climbed for the second-straight day after their Christmas Day tumble. In Australia, the ASX 200 rose around 1.9 percent, with all sectors seeing gains.
As investors moved back into riskier assets overnight, 10-year U.S. Treasury yields rose and last stood at 2.799 percent, about 8 basis point off their lowest since April hit in Asian trading on Wednesday. The shift into riskier assets provided support to the dollar, which rose nearly 1 percent against the yen to 111.41 overnight – its largest single-day gain against the safe-haven Japanese currency since late April.
In commodity markets, gold remained below a six-month peak hit during the previous session.
Upcoming Events:
- 04:00 PM GMT – (USD) CB Consumer Confidence
