{"id":33165,"date":"2019-03-06T18:20:23","date_gmt":"2019-03-06T07:20:23","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=33165"},"modified":"2019-03-06T18:20:23","modified_gmt":"2019-03-06T07:20:23","slug":"wednesday-6th-march-asian-markets-directionless-in-the-absence-of-cues","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/wednesday-6th-march-asian-markets-directionless-in-the-absence-of-cues\/","title":{"rendered":"Wednesday 6th March: Asian markets directionless in the absence of cues"},"content":{"rendered":"<h3><strong>Global Markets:<\/strong><\/h3>\n<ul>\n<li>Asian Stock Markets : Nikkei down 0.54%, Shanghai Composite up 1.57%, Hang Seng up 0.14%, ASX up 0.75%<\/li>\n<li>Commodities : Gold at $1291.45 (+0.53%), Silver at $15.16 (+0.38%), Brent Oil at $65.52 (-0.52%), WTI Oil at $56.17 (-0.69%)<\/li>\n<li>Rates : US 10-year yield at 2.708, UK 10-year yield at 1.289, Germany 10-year yield at 0.150<\/li>\n<\/ul>\n<h3><strong>News &amp; Data:<\/strong><\/h3>\n<ul>\n<li>(AUD) Current Account -7.2B vs -9.3B expected<\/li>\n<li>(AUD) Cash Rate 1.50% vs 1.50% expected<\/li>\n<li>(GBP) Services PMI 51.3 vs 50 expected<\/li>\n<li>(USD) ISM Non-Manufacturing PMI 59.7 vs 57.4 expected<\/li>\n<li>(AUD) GDP q\/q 0.20% vs 0.50% expected<\/li>\n<li>North Korea rebuilds part of missile site as Bolton warns of more sanctions<\/li>\n<li>BOJ&#8217;s Harada: Risks to Japan&#8217;s economy heightening but don&#8217;t see economy sliding into recession now<\/li>\n<\/ul>\n<h3><strong>Markets Update:<\/strong><\/h3>\n<p>Asian stock markets are mostly higher on Wednesday despite the modest losses overnight on Wall Street. Gains are modest as investors awaited firm details about progress in U.S.-China trade talks and also focused on the Brexit negotiations.<\/p>\n<p>Mainland Chinese shares gained by the morning session&#8217;s end, with the Shanghai composite rising 1.6 percent and the Shenzhen component advancing 1.3 percent. Hong Kong&#8217;s Hang Seng index also added 0.21 percent, as shares of Chinese tech juggernaut Tencent jumped 1.72 percent. Japan&#8217;s Nikkei 225 declined 0.5 percent and the Topix slipped 0.3 percent. Shares of Fast Retailing, the company behind the Uniqlo chain of apparel stores, fell more than 3 percent. Meanwhile, Australia&#8217;s ASX 200 rose 0.7 percent, despite data on Wednesday showing the country&#8217;s economy slowed sharply in the second half of last year.<\/p>\n<p>The dollar held gains after rising against its peers on Tuesday&#8217;s upbeat ISM non-manufacturing sector report. The euro was little changed at $1.1298 following a decline of 0.3 percent the previous day, when it plumbed a two-week trough of $1.1289.<\/p>\n<p>U.S. crude oil futures were down 1 percent at $56.01 per barrel after data from the American Petroleum Institute (API), an industry group, showed a larger-than-expected increase in U.S. crude stockpiles.<\/p>\n<h3><strong>Upcoming Events:<\/strong><\/h3>\n<ul>\n<li>01:15 PM GMT &#8211; (GBP) MPC Member Cunliffe Speaks<\/li>\n<li>02:15 PM GMT &#8211; (USD) ADP Non-Farm Employment Change<\/li>\n<li>02:30 PM GMT &#8211; (CAD) Trade Balance<\/li>\n<li>04:00 PM GMT &#8211; (CAD) BOC Rate Statement<\/li>\n<li>04:00 PM GMT &#8211; (CAD) Overnight Rate<\/li>\n<li>04:00 PM GMT &#8211; (CAD) Ivey PMI<\/li>\n<li>06:00 PM GMT &#8211; (USD) FOMC Member Williams Speaks<\/li>\n<li>06:30 PM GMT &#8211; (GBP) MPC Member Saunders Speaks<\/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 0.54%, Shanghai Composite up 1.57%, Hang Seng up 0.14%, ASX up 0.75% Commodities : Gold at $1291.45 (+0.53%), Silver at $15.16 (+0.38%), Brent Oil at $65.52 (-0.52%), WTI Oil at $56.17 (-0.69%) Rates : US 10-year yield at 2.708, UK 10-year yield at 1.289, Germany 10-year yield &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/wednesday-6th-march-asian-markets-directionless-in-the-absence-of-cues\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 6th March: Asian markets directionless in the absence of cues<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":33168,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[339],"tags":[],"class_list":["post-33165","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\/33165","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=33165"}],"version-history":[{"count":1,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/33165\/revisions"}],"predecessor-version":[{"id":33169,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/33165\/revisions\/33169"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/33168"}],"wp:attachment":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=33165"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=33165"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=33165"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}