{"id":36937,"date":"2019-10-08T17:22:18","date_gmt":"2019-10-08T06:22:18","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=36937"},"modified":"2019-10-08T17:22:18","modified_gmt":"2019-10-08T06:22:18","slug":"tuesday-8th-october-asian-markets-gain-amid-trade-talk-hopes","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/tuesday-8th-october-asian-markets-gain-amid-trade-talk-hopes\/","title":{"rendered":"Tuesday 8th October: Asian markets gain amid trade talk hopes"},"content":{"rendered":"<h3><strong>Global Markets:<\/strong><\/h3>\n<ul>\n<li>Asian Stock Markets : Nikkei up 1.01%, Shanghai Composite up 0.46%, Hang Seng up 0.71%, ASX up 0.45%<\/li>\n<li>Commodities: Gold at $1495.45 (-0.59%), Silver at $17.44 (-0.58%), Brent Oil at $58.84 (+0.84%), WTI Oil at $53.23 (+0.91%)<\/li>\n<li>Rates : US 10-year yield at 1.582, UK 10-year yield at 0.447, Germany 10-year yield at -0.548<\/li>\n<\/ul>\n<h3><strong>News &amp; Data:<\/strong><\/h3>\n<ul>\n<li>(CNY) Caixin Services PMI 51.3 vs 52.1 expected<\/li>\n<li>(AUD) ANZ Job Advertisements m\/m 0.30% vs -2.60% previous<\/li>\n<li>(AUD) NAB Business Confidence 0 vs 1 previous<\/li>\n<li>(JPY) Current Account 1.72T vs 1.68T expected<\/li>\n<li>(JPY) Household Spending y\/y 1.00% vs 0.90% expected<\/li>\n<li>(JPY) Average Cash Earnings y\/y -0.20% vs -0.20% expected<\/li>\n<li>(USD) Consumer Credit m\/m 17.9B vs 14.9B expected<\/li>\n<li>(GBP) BRC Retail Sales Monitor y\/y -1.70% vs -0.80% expected<\/li>\n<li>(EUR) Sentix Investor Confidence -16.8 vs -12.9 expected<\/li>\n<li>(GBP) Halifax HPI m\/m -0.40% vs 0.40% expected<\/li>\n<li>(CHF) Foreign Currency Reserves 777B vs 767B previous<\/li>\n<li>(EUR) German Factory Orders m\/m -0.60% vs -0.40% expected<\/li>\n<li>(JPY) Leading Indicators 91.70% vs 91.80% expected<\/li>\n<li>(JPY) Economy Watchers Sentiment 46.7 vs 43.4 expected<\/li>\n<li>(CHF) Unemployment Rate 2.30% vs 2.10% expected<\/li>\n<\/ul>\n<h3><strong>Markets Update:<\/strong><\/h3>\n<p>Asian shares inched up on Tuesday, with Chinese shares making modest gains after a week-long holiday, though investors remained cautious over U.S.-China trade talks after President Donald Trump said a quick trade deal was unlikely.<\/p>\n<p>On Wall Street, the market extended its losing streak into a fourth week on Monday. S&amp;P 500 lost 0.45% on Monday, unable to sustain gains made after positive tweets and news headlines about the trade talks.<\/p>\n<p>Japan&#8217;s Nikkei climbed 1.01% while MSCI&#8217;s broadest index of Asia-Pacific shares outside Japan rose 0.73%, led by gains in tech shares in South Korea and Taiwan. Hong Kong shares extended gains after the territory&#8217;s leader said she had no plans to use the emergency regulation ordinance to introduce other laws.<\/p>\n<p>Shanghai shares rose 0.3% after the week-long break though gains were led mainly by defensive shares ahead of the crucial trade talks. Down under, ASX is trading 0.45% in green.<\/p>\n<p>U.S. debt yields jumped back as $78 billion in note and bond supply slated for auction this week helped push prices lower after last week&#8217;s dramatic rise. The 10-year U.S. Treasuries yield last stood at 1.582%. Major currencies were more range-bound. The dollar traded at 107.40 yen, up 0.15% after having found some support around 106.50 yen in the past few sessions.<\/p>\n<p>Oil prices rose on Tuesday, as unrest in oil-producing countries Iraq and Ecuador raised concerns of supply disruption. Brent crude futures rose 0.84% to $58.84 a barrel while U.S. West Texas Intermediate (WTI) crude gained 0.91% to $53.23 per barrel. Prices of the safe-haven gold rose on Tuesday in Asia amid lowered rate cut expectations.<\/p>\n<h3><strong>Upcoming Events:<\/strong><\/h3>\n<ul>\n<li>8:00 am GMT &#8211; (EUR) Italian Retail Sales m\/m<\/li>\n<li>8:20 am GMT &#8211; (GBP) MPC Member Haldane Speaks<\/li>\n<li>9:30 am GMT &#8211; (GBP) MPC Member Tenreyro Speaks<\/li>\n<li>10:00 am GMT &#8211; (USD) NFIB Small Business Index<\/li>\n<li>12:15 pm GMT &#8211; (CAD) Housing Starts<\/li>\n<li>12:30 pm GMT &#8211; (CAD) Building Permits m\/m<\/li>\n<li>12:30 pm GMT &#8211; (USD) Core PPI m\/m<\/li>\n<li>12:30 pm GMT &#8211; (USD) PPI m\/m<\/li>\n<li>Tentative &#8211; (USD) IBD\/TIPP Economic Optimism<\/li>\n<li>5:35 pm GMT &#8211; (USD) FOMC Member Evans Speaks<\/li>\n<li>5:50 pm GMT &#8211; (USD) Fed Chair Powell Speaks<\/li>\n<li>11:30 pm GMT &#8211; (AUD) Westpac Consumer Sentiment<\/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 1.01%, Shanghai Composite up 0.46%, Hang Seng up 0.71%, ASX up 0.45% Commodities: Gold at $1495.45 (-0.59%), Silver at $17.44 (-0.58%), Brent Oil at $58.84 (+0.84%), WTI Oil at $53.23 (+0.91%) Rates : US 10-year yield at 1.582, UK 10-year yield at 0.447, Germany 10-year yield at &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/tuesday-8th-october-asian-markets-gain-amid-trade-talk-hopes\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Tuesday 8th October: Asian markets gain amid trade talk hopes<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":36938,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[339],"tags":[],"class_list":["post-36937","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\/36937","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=36937"}],"version-history":[{"count":1,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/36937\/revisions"}],"predecessor-version":[{"id":36939,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/36937\/revisions\/36939"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/36938"}],"wp:attachment":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=36937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=36937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=36937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}