Global Markets:
- Asian Stock Markets : Shanghai Composite down 1.20%, Hang Seng down 2.98%, ASX down 1.57%
- Commodities : Gold at $1288.55 (+0.57%), Silver at $15.50 (-0.27%), Brent Oil at $53.08 (-1.92%), WTI Oil at $44.80 (-2.18%)
- Rates : US 10-year yield at 2.686, UK 10-year yield at 1.275, Germany 10-year yield at 0.242
News & Data:
- (AUD) Commodity Prices y/y 10.50% vs 13.40% previous
- (CNY) Caixin Manufacturing PMI 49.7 vs 50.1 expected
- Australian home prices mark worst year since 2008
Markets Update:
Asian stock markets are in negative territory on Wednesday, the first trading day of 2019, in the absence of fresh cues overnight from Wall Street, which was closed for the New Year’s Day holiday.
Worries about global economic growth dampened investor sentiment after results of a private survey showed that China’s manufacturing activity in December contracted for the first time in 19 months amid trade tensions with the U.S.
The ASX 200 in Australia traded lower by more than 1.2 percent following an earlier recovery. The heavily-weighted financial subindex fell 1.7 percent as shares of the so-called Big Four banks Down Under declined. The Japanese stock markets are closed for a public holiday on Wednesday.
Chinese shares slipped by the end of the morning session. The Shanghai composite fell about 1 percent while the Shenzhen composite shed 0.474 percent and the Shenzhen component lost 0.761 percent.
A sharp drop in the crude price at the end of last year has helped sentiment in Asia’s oil-importing economies, where trade deficits are a key vulnerability. The safe-haven yen extended its broad rally as the U.S. dollar dropped to 109.37 , its lowest since June last year. The dollar has been dragged by a steep fall in Treasury yields in recent weeks as investors wagered the U.S. Federal Reserve would not raise rates again, even though it is still projecting at least two more hikes.
Upcoming Events:
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