Global Markets:
- Asian Stock Markets : Nikkei up 0.65%, Shanghai Composite down 2.17%, Hang Seng down 0.70%, ASX up 0.44%
- Commodities : Gold at $1228.00 (0.00%), Silver at $14.46 (-0.32%), Brent Oil at $61.86 (-1.18%), WTI Oil at $53.23 (-2.56%)
- Rates : US 10-year yield at 3.065, UK 10-year yield at 1.419, Germany 10-year yield at 0.367
News & Data:
- (EUR) Consumer Confidence -4 vs -3 expected
- (CAD) Corporate Profits q/q 3.90% vs 1.00% previous
- (EUR) Spanish 10-y Bond Auction 1.61|1.6 vs 1.64|2.1 previous
- China data shows economic growth slowing as impact of trade war with US intensifies
- Chinese Exports to BRI Countries Reach US$9.63 Billion at 124th Canton Fair
Markets Update:
Asian stocks were mixed in morning trade on Friday, with Chinese stocks down more about 2% on reports that the U.S. government asked key allies to avoid using equipment manufactured by China’s Huawei Technologies. Weak corporate earnings in Europe added to worries about global growth and outweighed hopes for progress in Brexit negotiations.
With U.S. markets closed overnight for Thanksgiving and Japan on holiday on Friday, trading activity was muted. Regional indicators turned lower after China's markets opened. The Shanghai composite fell 2.2 percent while the Shenzhen composite declined by 3.1 percent. Hong Kong's Hang Seng index also slipped 0.7 percent.
Australia's benchmark ASX 200 extended its recovery to see gains of 0.44 percent in afternoon trade, with the heavily weighted financial subindex gaining 1.15 percent.
The U.S. dollar index was at 96.428 after declining from levels above 96.7 yesterday. In commodities markets, U.S. crude oil prices extended their recent slump as U.S. inventories hit their highest level since December, adding to concerns about a global crude glut.
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