{"id":34475,"date":"2019-05-14T16:18:18","date_gmt":"2019-05-14T06:18:18","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=34475"},"modified":"2019-05-14T16:18:18","modified_gmt":"2019-05-14T06:18:18","slug":"tuesday-14th-may-asian-markets-at-three-and-a-half-month-lows","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/tuesday-14th-may-asian-markets-at-three-and-a-half-month-lows\/","title":{"rendered":"Tuesday 14th May: Asian markets at three-and-a-half month lows"},"content":{"rendered":"<h3><strong>Global Markets:<\/strong><\/h3>\n<ul>\n<li>Asian Stock Markets : Nikkei down 0.47%, Shanghai Composite down 0.16%, Hang Seng down 1.60%, ASX down 0.88%<\/li>\n<li>Commodities : Gold at $1299.55 (-0.17%), Silver at $14.80 (+0.14%), Brent Oil at $70.47 (+0.34%), WTI Oil at $61.17 (+0.21%)<\/li>\n<li>Rates : US 10-year yield at 2.417, UK 10-year yield at 1.092, Germany 10-year yield at -0.060<\/li>\n<\/ul>\n<h3><strong>News &amp; Data:<\/strong><\/h3>\n<ul>\n<li>(NZD) Visitor Arrivals m\/m 2.50% vs -1.60% previous<\/li>\n<li>(JPY) Leading Indicators 96.30% vs 96.40% expected<\/li>\n<li>(AUD) Home Loans m\/m -2.50% vs 2.20% expected<\/li>\n<li>Monsanto must pay couple $2bn in largest verdict yet over cancer claims<\/li>\n<li>China&#8217;s offshore yuan weakest since December after Beijing adds tariffs<\/li>\n<\/ul>\n<h3><strong>Markets Update:<\/strong><\/h3>\n<p>Asian stock markets are mostly lower on Tuesday, extending losses from the previous session following the overnight sell-off on Wall Street amid worries about rising U.S.-China trade tensions.<\/p>\n<p>China has announced tariffs on about $60 billion worth of U.S. goods in retaliation for the U.S. decision to raise tariffs on about $200 billion worth of Chinese imports. The U.S. Trade Representative&#8217;s Office said it plans to hold a public hearing in June on the possibility of raising duties of up to 25 percent on a further $300 billion worth of imports from China. Meanwhile, U.S. President Donald Trump said he would meet with Chinese President Xi Jinping next month.<\/p>\n<p>Mainland Chinese shares slipped by the afternoon, with the Shanghai composite lower by 0.2% and the Shenzhen component traded flat. Hong Kong\u2019s Hang Seng index fell 1.6% as shares of Chinese tech giant Tencent dropped more than 2%. The Nikkei 225 in Japan fell 0.5% in afternoon trade, with shares of index heavyweight and conglomerate Softbank Group plunging more than 5%. The Topix index also slipped 0.5%. In South Korea, the Kospi bucked the overall trend to rise nearly 0.2%. Australia\u2019s ASX 200 slipped 0.9% as most sectors declined.<\/p>\n<p>As investors flocked to safe-haven assets, U.S. Treasury yields remained near six-week lows early on Tuesday, though they moved higher following Trump&#8217;s comments. Benchmark 10-year Treasury notes last yielded 2.4157% compared with a U.S. close of 2.405% on Monday.<\/p>\n<p>After earlier falling against the yen, the dollar strengthened 0.25% against the Japanese currency to 109.57. The single currency was up about 0.1% on the day at $1.1238, while the dollar index, which tracks the greenback against a basket of six major rivals, was nearly unchanged at 97.313. Elsewhere, gold gave up gains after earlier rising amid broader market jitters. Spot gold was flat at $1,299.35 per ounce.<\/p>\n<h3><strong>Upcoming Events:<\/strong><\/h3>\n<ul>\n<li>08:15 AM GMT &#8211; (USD) FOMC Member Williams Speaks<\/li>\n<li>09:30 AM GMT &#8211; (GBP) Average Earnings Index 3m\/y<\/li>\n<li>09:30 AM GMT &#8211; (GBP) Unemployment Rate<\/li>\n<li>10:00 AM GMT &#8211; (EUR) German ZEW Economic Sentiment<\/li>\n<li>05:45 PM GMT &#8211; (USD) FOMC Member George 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 0.47%, Shanghai Composite down 0.16%, Hang Seng down 1.60%, ASX down 0.88% Commodities : Gold at $1299.55 (-0.17%), Silver at $14.80 (+0.14%), Brent Oil at $70.47 (+0.34%), WTI Oil at $61.17 (+0.21%) Rates : US 10-year yield at 2.417, UK 10-year yield at 1.092, Germany 10-year yield &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/tuesday-14th-may-asian-markets-at-three-and-a-half-month-lows\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Tuesday 14th May: Asian markets at three-and-a-half month lows<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":34477,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[339],"tags":[],"class_list":["post-34475","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\/34475","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=34475"}],"version-history":[{"count":1,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/34475\/revisions"}],"predecessor-version":[{"id":34478,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/34475\/revisions\/34478"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/34477"}],"wp:attachment":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=34475"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=34475"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=34475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}