Global Markets:
- Asian Stock Markets : Nikkei up 0.20%, Shanghai Composite down 0.34%, Hang Seng down 0.21%, ASX up 0.28%
- Commodities : Gold at $1326.65 (+0.34%), Silver at $15.74 (-0.03%), Brent Oil at $66.36 (-0.21%), WTI Oil at $56.27 (+0.52%)
- Rates : US 10-year yield at 2.668, UK 10-year yield at 1.165, Germany 10-year yield at 0.109
News & Data:
- (GBP) Rightmove HPI m/m 0.70% vs 0.40% previous
- (JPY) Core Machinery Orders m/m -0.10% vs -1.10% expected
- Further falls in house prices will hit the economy, says Reserve Bank of Australia
- Japan Says U.S. Won’t Hike Car Tariffs During Trade Deal Talks
- US Chamber of Commerce: China trade deal ‘fails’ if Washington doesn’t win enforcement measures
Markets Update:
Asian stock markets are mostly higher on Tuesday despite the absence of any cues from Wall Street which was closed on Monday for a public holiday. Investors also awaited developments on the U.S.-China trade front.
The White House said on Monday that trade talks between the two economic powerhouses will continue in Washington on Tuesday, with higher level negotiations starting later in the week.
Mainland Chinese markets were lower, with the Shanghai composite falling 0.34 percent while the Shenzhen component was 0.4 percent lower. Hong Kong’s Hang Seng index also lost some ground, lower by about 0.2 percent, as shares of Chinese tech giant Tencent fell 0.4 percent. apan’s Nikkei 225 rose 0.3 percent and the Topix was 0.3 percent higher in afternoon trade, as shares of index heavyweight Fast Retailing shed earlier gains to slip 0.3 percent. South Korea’s Kospi, on the other hand, was slightly lower. The Australian market is advancing, extending gains from the previous session, trading higher by 0.3 percent.
In currency markets, the euro was 0.1 percent weaker at $1.1295, not far from Friday’s three-month low of $1.1234, largely on a run of soft European economic data including Germany’s GDP figures. Most other currencies were stuck in familiar ranges. The precious metals market was slightly more lively, with palladium surging to a record high of $1,471.0 per ounce as stricter emissions standards are seen increasing demand for the autocatalyst metal.
Oil prices were mixed, with Brent futures off 29 cents at $66.21, not far from Monday’s $66.83 which was the highest since mid-November.
Upcoming Events:
- 10:30 AM GMT – (GBP) Average Earnings Index 3m/y
- 10:30 AM GMT – (GBP) Unemployment Rate
- 11:00 AM GMT – (EUR) German ZEW Economic Sentiment
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