Global Markets:
- Asian Stock Markets : Shanghai Composite up 0.35%, Hang Seng up 0.28%, ASX up 0.30%
- Commodities : Gold at $1487.95 (-0.01%), Silver at $17.57 (-0.16%), Brent Oil at $58.90 (-0.10%), WTI Oil at $53.38 (-0.24%)
- Rates : US 10-year yield at 1.803, UK 10-year yield at 0.746, Germany 10-year yield at -0.350
News & Data:
- China’s growth slumped to a record low last quarter – and it could drop even lower next year, the IMF warns
- Justin Trudeau holds on with a Liberal minority government
- No more delays, UK PM Johnson appeals to parliament to back Brexit bill
- UK Parliament To Hold The First Vote On The Brexit Bill 7PM Tuesday
- Hong Kong Property Prices Plunge For 8 Straight Weeks
- EU’s incoming economy chief calls for less restrictive budget policies
Markets Update:
Asian stock markets are mostly higher on Tuesday, tracking the positive cues overnight from Wall Street amid renewed optimism that the U.S. and China will sign the first phase of a trade deal by the middle of November following comments from President Donald Trump and Chinese Vice Premier Liu He. Hopes of upbeat earnings results from major companies this week also boosted sentiment. The Japanese market is closed for a holiday.
Chinese mainland shares mostly advanced: The Shanghai composite gained 0.4%, the Shenzhen composite was up 0.7%. n South Korea, the Kospi index rose 1.2% as major chipmakers gained. Samsung shares were up 1.7% and SK Hynix added 1.9%. Hong Kong’s Hang Seng Index was up 0.3%. Australia’s benchmark ASX 200 was up 0.3%, with the energy subindex adding 0.7% and materials up by 0.7% as major miners gained.
The better mood saw safe-haven bonds extend their recent pullback, with 10-year Treasury yields at a five-week peak of 1.80%. In foreign exchange markets, the dollar found support against the yen at 108.64 while staying steady on a basket of currencies to 97.297.
In commodity markets, spot gold was idling at $1,487.95 per ounce. Oil prices were little moved as the market fretted about the health of the global economy and the future for energy demand.
Upcoming Events:
- 12:30 PM GMT – (CAD) Core Retail Sales m/m
- 12:30 PM GMT – (CAD) Retail Sales m/m
- Tentative – (GBP) Parliament Brexit Vote
- 02:30 PM GMT – (CAD) BOC Business Outlook Survey
- 10:20 PM GMT – (AUD) RBA Assist Gov Kent Speaks
- &more…
