Global Markets:
- Asian Stock Markets : Nikkei down 0.87%, Shanghai Composite down 0.83%, Hang Seng down 1.58%, ASX down 0.61%
- Commodities : Gold at $1804.25 (-0.54%), Silver at $19.41 (-1.91%), Brent Oil at $42.20 (-1.22%), WTI Oil at $39.48 (-1.55%)
- Rates : US 10-year yield at 0.615, UK 10-year yield at 0.149, Germany 10-year yield at -0.440
News & Data:
- (GBP) GDP m/m 1.80% vs 5.50% expected
- (CNY) USD-Denominated Trade Balance 46.4B vs 58.3B expected
- (CNY) Trade Balance 329B vs 410B expected
- (AUD) NAB Business Confidence 1 vs -20 previous
- US rejects nearly all Chinese claims in South China Sea
Markets Update:
Asian stock markets are mostly lower on Tuesday following the mostly negative cues overnight from Wall Street after California Governor Gavin Newsom rolled back the state’s reopening following a recent spike in coronavirus cases. Worries about the rising number of coronavirus cases globally and renewed U.S.-China tensions dampened investor sentiment. The White House has rejected China’s expansive claims in the South China Sea.
Mainland Chinese stocks declined on the day, with the Shanghai composite down 0.8% while the Shenzhen component dropped 1.1%. Hong Kong’s Hang Seng index fell 1.6%. In Japan, the Nikkei 225 slipped 0.9% while the Topix index declined 0.5%. Shares in Australia also saw losses on the day, with the S&P/ASX 200 down 0.6%.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 96.585 after touching an earlier high of 96.61. Crude oil for August delivery was down 2.00% or 0.80 to $39.30 a barrel.
Upcoming Events:
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- 12:30 PM GMT – (USD) Core CPI m/m