Global Markets:
- Asian Stock Markets : Nikkei up 0.43%, Shanghai Composite up 0.79%, Hang Seng up 0.54%, ASX up 0.53%
- Commodities : Gold at $1282.55 (-0.08%), Silver at $14.53 (-0.15%), Brent Oil at $68.93 (+0.23%), WTI Oil at $59.31 (+1.16%)
- Rates : US 10-year yield at 2.311, UK 10-year yield at 0.959, Germany 10-year yield at -0.138
News & Data:
- (JPY) SPPI y/y 0.90% vs 1.20% expected
- (JPY) BOJ Core CPI y/y 0.70% vs 0.50% previous
- Japan Econ Min Motegi: Comments Made By Trump Show An Aim To Accelerate Talks
- Confidence up as RBA cuts loom: ANZ
Markets Update:
Asian stock markets are mostly higher on Tuesday with modest gains in the absence of fresh cues from Wall Street, which was closed overnight for a holiday. Gains in the major European markets overnight following the results of EU parliamentary elections helped boost sentiment.
Trade issues also remained in investors’ focus after President Donald Trump said that the U.S. was “not ready” to make a trade deal with China and is working to reduce its trade deficit with Japan. Trump is currently in Japan on a four-day state visit.
Mainland Chinese stocks were higher in the afternoon, with the Shanghai composite gaining 0.8% and the Shenzhen component adding 0.9%. In Hong Kong, the Hang Seng index was 0.5% higher, as shares of Chinese tech giant Tencent jumped 1.6%.
The Nikkei 225 in Japan added 0.4% in afternoon trade, while the Topix index rose 0.3%. Shares of semiconductor equipment manufacturer Tokyo Electron jumped more than 3% following the announcement of a share buyback, Reuters reported. In South Korea, the Kospi was gained 0.5%. Over in Australia, the ASX 200 advanced 0.5%.
The dollar index, which tracks the greenback against a basket of six major rivals, was 0.20% higher at 97.806. U.S. yields were also lower. Benchmark 10-year Treasury notes yielded 2.3061%. The two-year yield touched 2.1661%. In commodity markets, oil prices wavered after rising more than 1% on Monday on tensions in the Middle East and OPEC-led supply cuts, as well as continuing Russian supply disruptions after a contamination problem discovered last month.
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