{"id":32683,"date":"2019-02-01T16:42:54","date_gmt":"2019-02-01T05:42:54","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=32683"},"modified":"2019-02-01T16:42:54","modified_gmt":"2019-02-01T05:42:54","slug":"friday-1st-february-asian-markets-open-higher-but-give-up-gains-later-in-the-day","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/friday-1st-february-asian-markets-open-higher-but-give-up-gains-later-in-the-day\/","title":{"rendered":"Friday 1st February: Asian markets open higher but give up gains later in the day"},"content":{"rendered":"<h3><strong>Global Markets:<\/strong><\/h3>\n<ul>\n<li>Asian Stock Markets : Nikkei down 0.01%, Shanghai Composite up 0.61%, Hang Seng down 0.52%, ASX down 0.05%<\/li>\n<li>Commodities : Gold at $1322.85 (-0.18%), Silver at $15.97 (-0.65%), Brent Oil at $60.95 (+0.18%), WTI Oil at $53.84 (+0.09%)<\/li>\n<li>Rates : US 10-year yield at 2.631, UK 10-year yield at 1.221, Germany 10-year yield at 0.146<\/li>\n<\/ul>\n<h3><strong>News &amp; Data:<\/strong><\/h3>\n<ul>\n<li>(CNY) Caixin Manufacturing PMI 48.3 vs 49.5 expected<\/li>\n<li>(USD) Chicago PMI 56.7 vs 61.5 expected<\/li>\n<li>(USD) Employment Cost Index q\/q 0.70% vs 0.80% expected<\/li>\n<li>(CAD) RMPI m\/m 3.80% vs 3.90% expected<\/li>\n<li>(CAD) GDP m\/m -0.10% vs -0.10% expected<\/li>\n<li>(EUR) Prelim Flash GDP q\/q 0.20% vs 0.20% expected<\/li>\n<li>(EUR) Spanish Flash GDP q\/q 0.70% vs 0.60% expected<\/li>\n<li>(CNY) Manufacturing PMI 49.5 vs 49.3 expected<\/li>\n<li>China says &#8216;important progress&#8217; made in trade talks with the US &#8211; says it will buy substantially more agricultural and energy goods<\/li>\n<li>Yuan Plunges After China Caixin PMI Tumbles To 3 Year Low; Biggest Drop On Record<\/li>\n<\/ul>\n<h3><strong>Markets Update:<\/strong><\/h3>\n<p>Asian stock markets are mostly higher on Friday following the mostly positive cues overnight from Wall Street amid upbeat corporate earnings results and on optimism about U.S.-China trade talks.<\/p>\n<p>However, most of the markets have pared early gains and are now modestly higher after a private survey showed that China&#8217;s manufacturing activity contracted more than expected in January, reinforcing fears of a slowdown in the world&#8217;s second-largest economy. Investors are also cautious as they look ahead to the U.S. jobs data for January due later in the day.<\/p>\n<p>Japan\u2019s Nikkei 225 was near flat at 20,778 after a business survey showed. Meanwhile, the country\u2019s seasonally adjusted unemployment rate fell to 2.4% in December from 2.5% last month, matching the median estimate. The Shanghai Composite and the Shenzhen Component gained 0.6% and 1.5%. Hong Kong\u2019s Hang Seng Index edged down 0.5%. South Korea\u2019s KOSPI edged up 0.2%. Down under, Australia\u2019s ASX 200 traded flat.<\/p>\n<p>Yields on two-year Treasuries were down 14 basis points on the week so far, which if sustained would be the largest weekly decline since mid-2010. The Euro took a knock when Bundesbank president Jens Weidmann painted an unusually bleak picture of the German economy, saying the country&#8217;s slump will last longer than initially thought.<\/p>\n<p>Oil prices were subdued as the poor China data offset signs major exporters were quickly reducing output in line with a pact to cut supply.<\/p>\n<h3><strong>Upcoming Events:<\/strong><\/h3>\n<ul>\n<li>10:30 AM GMT &#8211; (GBP) Manufacturing PMI<\/li>\n<li>11:00 AM GMT &#8211; (EUR) CPI Flash Estimate y\/y<\/li>\n<li>11:00 AM GMT &#8211; (EUR) Core CPI Flash Estimate y\/y<\/li>\n<li>02:30 PM GMT &#8211; (USD) Average Hourly Earnings m\/m<\/li>\n<li>02:30 PM GMT &#8211; (USD) Non-Farm Employment Change<\/li>\n<li>02:30 PM GMT &#8211; (USD) Unemployment Rate<\/li>\n<li>04:00 PM GMT &#8211; (USD) ISM Manufacturing PMI<\/li>\n<li>04:00 PM GMT &#8211; (USD) Revised UoM Consumer Sentiment<\/li>\n<li><a href=\"http:\/\/www.icmarkets.com\/education\/forex-news-and-calendar\/\">&amp;more&#8230;<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei down 0.01%, Shanghai Composite up 0.61%, Hang Seng down 0.52%, ASX down 0.05% Commodities : Gold at $1322.85 (-0.18%), Silver at $15.97 (-0.65%), Brent Oil at $60.95 (+0.18%), WTI Oil at $53.84 (+0.09%) Rates : US 10-year yield at 2.631, UK 10-year yield at 1.221, Germany 10-year yield &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/friday-1st-february-asian-markets-open-higher-but-give-up-gains-later-in-the-day\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Friday 1st February: Asian markets open higher but give up gains later in the day<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":32684,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[339],"tags":[],"class_list":["post-32683","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-recent-posts"],"_links":{"self":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/32683","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/comments?post=32683"}],"version-history":[{"count":1,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/32683\/revisions"}],"predecessor-version":[{"id":32685,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/32683\/revisions\/32685"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/32684"}],"wp:attachment":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=32683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=32683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=32683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}