Global Markets:
- Asian Stock Markets : Nikkei down 2.27%, Shanghai Composite down 0.94%, Hang Seng down 1.12%, ASX down 3.60%
- Commodities : Gold at $1666.20 (+0.36%), Silver at $17.07 (+0.70%), Brent Oil at $37.42 (+0.54%), WTI Oil at $34.30 (-0.17%)
- Rates : US 10-year yield at 0.677, UK 10-year yield at 0.281, Germany 10-year yield at -0.811
News & Data:
- (AUD) Westpac Consumer Sentiment -3.80% vs 2.30% previous
- (GBP) 10-y Bond Auction 0.31|2.2 vs 0.51|2.2 previous
- (EUR) Revised GDP q/q 0.10% vs 0.10% expected
- (EUR) Final Employment Change q/q 0.30% vs 0.30% expected
- (EUR) Italian Industrial Production m/m 3.70% vs 1.60% expected
- (EUR) French Industrial Production m/m 1.20% vs 1.80% expected
- (EUR) French Final Private Payrolls q/q 0.50% vs 0.20% expected
- (JPY) Prelim Machine Tool Orders y/y -30.10% vs -35.60% previous
- RBA’s Debelle Says Fiscal, Monetary Policy To Support Economy
Markets Update:
Stocks in major Asia Pacific markets tumbled in Wednesday afternoon trade as investors continue to watch for developments around government stimulus with the coronavirus continuing to spread.
Growing scepticism about Washington’s stimulus package to fight the coronavirus outbreak also knocked the steam out of an earlier rally.Mainland Chinese stocks were down in afternoon trade, with the Shanghai composite around 0.9% lower and the Shenzhen component down more than 1.5%. In Hong Kong, the Hang Seng index was 1.1% lower.
In South Korea, the KOSPI plunged 2.8%. Stocks in Australia also saw sharp declines as the S&P/ASX 200 dropped 3.6% to close at 5,725.90.
Oil prices pared earlier gains but remained higher in the afternoon of Asian trading hours, with international benchmark Brent crude futures advancing 0.5%. The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 96.after an earlier high of 96.396.
Upcoming Events:
- 09:30 AM GMT – (GBP) GDP m/m
- 09:30 AM GMT – (GBP) Manufacturing Production m/m
- 11:30 AM GMT – (GBP) Annual Budget Release
- 12:30 PM GMT – (USD) CPI m/m
- 12:30 PM GMT – (USD) Core CPI m/m
- 02:30 PM GMT – (USD) Crude Oil Inventories