{"id":33840,"date":"2019-04-03T16:43:53","date_gmt":"2019-04-03T05:43:53","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=33840"},"modified":"2019-04-03T16:43:53","modified_gmt":"2019-04-03T05:43:53","slug":"wednesday-3rd-april-asian-markets-higher-as-us-china-reportedly-reach-an-agreement","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/wednesday-3rd-april-asian-markets-higher-as-us-china-reportedly-reach-an-agreement\/","title":{"rendered":"Wednesday 3rd April: Asian markets higher as US &#8211; China reportedly reach an agreement"},"content":{"rendered":"<h3><strong>Global Markets:<\/strong><\/h3>\n<ul>\n<li>Asian Stock Markets : Nikkei up 0.94%, Shanghai Composite up 0.51%, Hang Seng up 1.15%, ASX up 0.72%<\/li>\n<li>Commodities : Gold at $1297.35 (+0.15%), Silver at $15.15 (+0.58%), Brent Oil at $69.75 (+0.55%), WTI Oil at $62.83 (+0.40%)<\/li>\n<li>Rates : US 10-year yield at 2.503, UK 10-year yield at 1.025, Germany 10-year yield at -0.041<\/li>\n<\/ul>\n<h3><strong>News &amp; Data:<\/strong><\/h3>\n<ul>\n<li>(CNY) Caixin Services PMI 54.4 vs 52.3 expected<\/li>\n<li>(AUD) Trade Balance 4.80B vs 3.71B expected<\/li>\n<li>(AUD) Retail Sales m\/m 0.80% vs 0.30% expected<\/li>\n<li>(USD) Durable Goods Orders m\/m -1.60% vs -1.10% expected<\/li>\n<li>(USD) Core Durable Goods Orders m\/m 0.10% vs 0.30% expected<\/li>\n<li>AU retail sales bounce eases pressure for RBA rate cut<\/li>\n<li>China Caixin services PMI hits 14-month high<\/li>\n<\/ul>\n<h3><strong>Markets Update:<\/strong><\/h3>\n<p>Asian stock markets, with the exception of New Zealand, are higher on Wednesday despite the mixed cues overnight from Wall Street amid optimism about U.S.-China trade talks. The Financial Times reported that the U.S. and China have resolved most of the outstanding issues and are drawing closer to a final trade agreement. White House economic adviser Larry Kudlow also said on Tuesday that the world&#8217;s two largest economies &#8220;expect to make more headway&#8221; in trade talks this week.<\/p>\n<p>The Nikkei 225 in Japan added 0.9 percent in afternoon trade as shares of index heavyweight Fast Retailing soared almost 5 percent. The Topix index rose 0.6 percent. Hong Kong&#8217;s Hang Seng index gained 1.2 percent, as shares of Chinese tech giant Tencent jumped more than 2.5 percent \u2014 it had earlier reached its highest level since the last intra-day high on August 10.<\/p>\n<p>Mainland Chinese stocks, however, were tepid by the morning session&#8217;s end, with the Shanghai composite advancing 0.5 percent. Meanwhile, the ASX 200 in Australia rose 0.7 percent. Data on Wednesday showed that retail sales Down Under hit a 15-month high in February, with the country&#8217;s trade surplus soaring beyond expectations to its second highest on record in the same month.<\/p>\n<p>After a brief consolidation in risk sentiment, U.S. Treasury yields were once again ticking higher. Benchmark 10-year Treasury notes yielded 2.5027 percent, up from a U.S. close of 2.479 percent on Tuesday, and the two-year yield touched 2.3240 percent compared with a U.S. close of 2.308 percent. The dollar index, which tracks the greenback against a basket of six major rivals, eased 0.16 percent to 97.206.<\/p>\n<p>Oil prices also stood near multi-month highs amid concerns about supply, with Brent crude rising as much as 0.72 percent to $69.87 per barrel, its highest since November and near the psychologically important level of $70 per barrel.<\/p>\n<h3><strong>Upcoming Events:<\/strong><\/h3>\n<ul>\n<li>09:30 AM GMT &#8211; (GBP) Services PMI<\/li>\n<li>01:15 PM GMT &#8211; (USD) ADP Non-Farm Employment Change<\/li>\n<li>03:00 PM GMT &#8211; (USD) ISM Non-Manufacturing PMI<\/li>\n<li><a href=\"http:\/\/www.icmarkets.com\/education\/forex-news-and-calendar\/\">&amp;more&#8230;<\/a><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei up 0.94%, Shanghai Composite up 0.51%, Hang Seng up 1.15%, ASX up 0.72% Commodities : Gold at $1297.35 (+0.15%), Silver at $15.15 (+0.58%), Brent Oil at $69.75 (+0.55%), WTI Oil at $62.83 (+0.40%) Rates : US 10-year yield at 2.503, UK 10-year yield at 1.025, Germany 10-year yield &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/wednesday-3rd-april-asian-markets-higher-as-us-china-reportedly-reach-an-agreement\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 3rd April: Asian markets higher as US &#8211; China reportedly reach an agreement<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":33841,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[339],"tags":[],"class_list":["post-33840","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\/33840","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=33840"}],"version-history":[{"count":1,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/33840\/revisions"}],"predecessor-version":[{"id":33842,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/33840\/revisions\/33842"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/33841"}],"wp:attachment":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=33840"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=33840"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=33840"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}