{"id":34494,"date":"2019-05-15T16:40:49","date_gmt":"2019-05-15T06:40:49","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=34494"},"modified":"2019-05-15T16:40:49","modified_gmt":"2019-05-15T06:40:49","slug":"wednesday-15th-may-asian-markets-on-the-path-of-recovery","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/wednesday-15th-may-asian-markets-on-the-path-of-recovery\/","title":{"rendered":"Wednesday 15th May: Asian markets on the path of recovery"},"content":{"rendered":"<h3><strong>Global Markets:<\/strong><\/h3>\n<ul>\n<li>Asian Stock Markets : Nikkei up 0.58%, Shanghai Composite up 2.09%, Hang Seng up 0.96%, ASX up 0.71%<\/li>\n<li>Commodities : Gold at $1295.15 (-0.09%), Silver at $14.81 (-0.03%), Brent Oil at $71.07 (-0.24%), WTI Oil at $61.37 (-0.66%)<\/li>\n<li>Rates : US 10-year yield at 2.417, UK 10-year yield at 1.106, Germany 10-year yield at -0.073<\/li>\n<\/ul>\n<h3><strong>News &amp; Data:<\/strong><\/h3>\n<ul>\n<li>(EUR) German Prelim GDP q\/q 0.40% vs 0.40% expected<\/li>\n<li>(CNY) Industrial Production y\/y 5.40% vs 6.50% expected<\/li>\n<li>(CNY) Fixed Asset Investment ytd\/y 6.10% vs 6.40% expected<\/li>\n<li>(AUD) Wage Price Index q\/q 0.50% vs 0.60% expected<\/li>\n<li>(AUD) Westpac Consumer Sentiment 0.60% vs 1.90% previous<\/li>\n<li>(EUR) German ZEW Economic Sentiment -2.1 vs 5.1 expected<\/li>\n<li>(GBP) Unemployment Rate 3.80% vs 3.90% expected<\/li>\n<li>(GBP) Average Earnings Index 3m\/y 3.20% vs 3.40% expected<\/li>\n<\/ul>\n<h3><strong>Markets Update:<\/strong><\/h3>\n<p>Asian stock markets are mostly higher on Wednesday following the positive cues overnight from Wall Street, as markets staged a recovery attempt after recent steep losses. Nevertheless, lingering worries about U.S.-China trade tensions weighed on investor sentiment.<\/p>\n<p>U.S. President Donald Trump has continued to express confidence the Chinese will yield to U.S. demands, repeatedly arguing that the U.S. is in a stronger position than China in the negotiations.<\/p>\n<p>Mainland Chinese shares advanced by the afternoon, with the Shanghai composite adding 2.10% and the Shenzhen component rising 2.6%. In Hong Kong, the Hang Seng index added 1%. Japan\u2019s Nikkei 225 rose 0.6% in afternoon trade, while the Topix index added 0.6%. Japanese automaker Nissan Motor saw its shares plummet more than 7% after the company posted 2018 fiscal earnings that were their lowest level in 11 years. In South Korea, the Kospi rose 0.5% as shares of LG Chem jumped more than 2%.<\/p>\n<p>The dollar index against a basket of six major currencies was nearly flat at 97.524 after gaining 0.2% the previous day.<\/p>\n<p>In commodities, U.S. crude futures were down 0.76% at $61.31 per barrel after the American Petroleum Institute (API) reported a bigger-than-expected build in crude oil inventory. Brent and U.S. crude futures had surged the previous day after top exporter Saudi Arabia said explosive-laden drones launched by a Yemeni-armed movement aligned to Iran had attacked facilities belonging to state oil company Aramco.<\/p>\n<h3><strong>Upcoming Events:<\/strong><\/h3>\n<ul>\n<li>09:15 AM GMT &#8211; (EUR) German Buba President Weidmann Speaks<\/li>\n<li>01:30 PM GMT &#8211; (CAD) Manufacturing Sales m\/m<\/li>\n<li>01:30 PM GMT &#8211; (USD) Building Permits<\/li>\n<li>01:30 PM GMT &#8211; (USD) Philly Fed Manufacturing Index<\/li>\n<li>04:15 PM GMT &#8211; (CAD) BOC Gov Poloz Speaks<\/li>\n<li>05:15 PM GMT &#8211; (USD) FOMC Member Brainard Speaks<\/li>\n<li>06:30 PM GMT &#8211; (GBP) MPC Member Haskel Speaks<\/li>\n<li>Tentative &#8211; (USD) Treasury Currency Report<\/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<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei up 0.58%, Shanghai Composite up 2.09%, Hang Seng up 0.96%, ASX up 0.71% Commodities : Gold at $1295.15 (-0.09%), Silver at $14.81 (-0.03%), Brent Oil at $71.07 (-0.24%), WTI Oil at $61.37 (-0.66%) Rates : US 10-year yield at 2.417, UK 10-year yield at 1.106, Germany 10-year yield &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/wednesday-15th-may-asian-markets-on-the-path-of-recovery\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 15th May: Asian markets on the path of recovery<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":34496,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[339],"tags":[],"class_list":["post-34494","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\/34494","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=34494"}],"version-history":[{"count":1,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/34494\/revisions"}],"predecessor-version":[{"id":34497,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/34494\/revisions\/34497"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/34496"}],"wp:attachment":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=34494"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=34494"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=34494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}