{"id":34742,"date":"2019-05-29T15:43:09","date_gmt":"2019-05-29T05:43:09","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=34742"},"modified":"2019-05-29T15:43:09","modified_gmt":"2019-05-29T05:43:09","slug":"wednesday-29th-may-asian-markets-track-negative-cues-from-wall-street","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/wednesday-29th-may-asian-markets-track-negative-cues-from-wall-street\/","title":{"rendered":"Wednesday 29th May: Asian markets track negative cues from Wall Street"},"content":{"rendered":"<h3><strong>Global Markets:<\/strong><\/h3>\n<ul>\n<li>Asian Stock Markets : Nikkei down 1.23%, Shanghai Composite up 0.14%, Hang Seng down 0.19%, ASX down 0.71%<\/li>\n<li>Commodities : Gold at $1280.75 (+0.29%), Silver at $14.36 (+0.26%), Brent Oil at $68.06 (-0.89%), WTI Oil at $58.48 (-1.12%)<\/li>\n<li>Rates : US 10-year yield at 2.241, UK 10-year yield at 0.927, Germany 10-year yield at -0.161<\/li>\n<\/ul>\n<h3><strong>News &amp; Data:<\/strong><\/h3>\n<ul>\n<li>(NZD) ANZ Business Confidence -32 vs -37.5 previous<\/li>\n<li>(USD) CB Consumer Confidence 134.1 vs 130.1 expected<\/li>\n<li>NZ Government concedes some of National&#8217;s Budget 2019 details correct<\/li>\n<li>Ex-ECB head Trichet denounces rigid inflation targeting<\/li>\n<\/ul>\n<h3><strong>Markets Update:<\/strong><\/h3>\n<p>Asian stock markets are mostly lower on Wednesday, tracking the negative cues overnight from Wall Street and a slump in U.S. Treasury yields amid worries about global economic growth due to the U.S.-China trade war. Media reports indicated that China could be considering restricting the export of rare earth minerals, which are crucial for the technology industry, to the U.S.<\/p>\n<p>In Japan, the Nikkei 225 dropped 1.2% in afternoon trade as shares of convenience store chain FamilyMart dropped more than 5%. The Topix also declined 1%. The ASX 200 in Australia also shed 0.7% as almost all the sectors traded lower. Mainland Chinese stocks were mixed by the morning session\u2019s end, with the Shanghai composite slipping 0.1% and the Shenzhen component falling 0.2%.<\/p>\n<p>U.S. rates futures are pricing in two cuts by the Federal Reserve by the middle of next year to help prop up the country&#8217;s economy.<\/p>\n<p>In commodity markets, oil prices were subdued on Wednesday as worries the Sino-U.S. trade war could trigger a global economic downturn dominated, despite the risk of supply shortfall from U.S. floods and political tensions in the Middle East.<\/p>\n<h3><strong>Upcoming Events:<\/strong><\/h3>\n<ul>\n<li>08:00 AM GMT &#8211; (EUR) German Buba President Weidmann Speaks<\/li>\n<li>03:00 PM GMT &#8211; (CAD) BOC Rate Statement<\/li>\n<li>03:00 PM GMT &#8211; (CAD) Overnight Rate<\/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 down 1.23%, Shanghai Composite up 0.14%, Hang Seng down 0.19%, ASX down 0.71% Commodities : Gold at $1280.75 (+0.29%), Silver at $14.36 (+0.26%), Brent Oil at $68.06 (-0.89%), WTI Oil at $58.48 (-1.12%) Rates : US 10-year yield at 2.241, UK 10-year yield at 0.927, Germany 10-year yield &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/wednesday-29th-may-asian-markets-track-negative-cues-from-wall-street\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 29th May: Asian markets track negative cues from Wall Street<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":34743,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[339],"tags":[],"class_list":["post-34742","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\/34742","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=34742"}],"version-history":[{"count":1,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/34742\/revisions"}],"predecessor-version":[{"id":34744,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/34742\/revisions\/34744"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/34743"}],"wp:attachment":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=34742"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=34742"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=34742"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}