{"id":37062,"date":"2019-10-16T16:36:07","date_gmt":"2019-10-16T05:36:07","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=37062"},"modified":"2019-10-16T16:36:07","modified_gmt":"2019-10-16T05:36:07","slug":"wednesday-16th-october-asian-stocks-gain-on-wall-street-cues","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/wednesday-16th-october-asian-stocks-gain-on-wall-street-cues\/","title":{"rendered":"Wednesday 16th October: Asian stocks gain on Wall Street cues."},"content":{"rendered":"<h3><strong>Global Markets:<\/strong><\/h3>\n<ul>\n<li>Asian Stock Markets : Nikkei up 1.25%, Shanghai Composite down 0.24%, Hang Seng up 0.32%, ASX up 1.27%<\/li>\n<li>Commodities : Gold at $1487.35 (+0.26%), Silver at $17.45 (+0.40%), Brent Oil at $58.85 (+0.19%), WTI Oil at $52.91 (+0.19%)<\/li>\n<li>Rates : US 10-year yield at 1.747, UK 10-year yield at 0.699, Germany 10-year yield at -0.405<\/li>\n<\/ul>\n<h3><strong>News &amp; Data:<\/strong><\/h3>\n<ul>\n<li>(NZD) CPI q\/q 0.70% vs 0.60% expected<\/li>\n<li>(EUR) German ZEW Economic Sentiment -22.8 vs -27 expected<\/li>\n<li>(CNY) New Loans 1690B vs 1350B expected<\/li>\n<li>(GBP) Average Earnings Index 3m\/y 3.80% vs 4.00% expected<\/li>\n<li>(CNY) CPI y\/y 3.00% vs 2.90% expected<\/li>\n<li>China Unexpectedly Injects $28 Billion of Cash as Growth Slows<\/li>\n<li>China, US praise trade war deal dispute settlement mechanism but details remain sketchy after talks<\/li>\n<\/ul>\n<h3><strong>Markets Update:<\/strong><\/h3>\n<p>Asian stock markets are in positive territory on Wednesday following the overnight gains on Wall Street as upbeat earnings results from major U.S. companies and optimism about a possible Brexit deal boosted investor sentiment. According to media reports, European Union and UK negotiators were closing in on a draft Brexit deal.<\/p>\n<p>Mainland Chinese stocks rose in early trade, but the Shanghai Composite gave up early games to trade lower by 0.24%. Japan\u2019s Nikkei 225 jumped 1.3% in early trade. Sectors across the board did well, with autos, tech and retail carving out significant gains.<\/p>\n<p>In South Korea, the Kospi rose 0.61%. South Korea\u2019s central bank cut its interest rate for the second time in three months on Wednesday, as expected, following its first cut in July. Australia\u2019s S&amp;P\/ASX 200 rose 1.3% in the morning. The heavily weighted financial subindex was up 1.6%, with banks seeing gains.<\/p>\n<p>The dollar was under pressure against a basket of six major currencies with its index hovering near three-week lows at 98.338. The euro was little changed at $1.1028. In commodities, Brent crude rose todayafter falling the previous session over fears the unrelenting U.S.-China trade war would keep squeezing the global economy.<\/p>\n<h3><strong>Upcoming Events:<\/strong><\/h3>\n<ul>\n<li>08:30 AM GMT &#8211; (GBP) CPI y\/y<\/li>\n<li>08:30 AM GMT &#8211; (GBP) PPI Input m\/m<\/li>\n<li>12:30 PM GMT &#8211; (CAD) CPI m\/m<\/li>\n<li>12:30 PM GMT &#8211; (CAD) Common CPI y\/y<\/li>\n<li>12:30 PM GMT &#8211; (CAD) Median CPI y\/y<\/li>\n<li>12:30 PM GMT &#8211; (CAD) Trimmed CPI y\/y<\/li>\n<li>12:30 PM GMT &#8211; (USD) Core Retail Sales m\/m<\/li>\n<li>12:30 PM GMT &#8211; (USD) Retail Sales m\/m<\/li>\n<li>01:00 PM GMT &#8211; (GBP) BOE Gov Carney Speaks<\/li>\n<li>01:00 PM GMT &#8211; (USD) FOMC Member Evans Speaks<\/li>\n<li>05:00 PM GMT &#8211; (EUR) German Buba President Weidmann Speaks<\/li>\n<li>07:00 PM GMT &#8211; (USD) FOMC Member Brainard Speaks<\/li>\n<li>10:10 PM GMT &#8211; (AUD) RBA Deputy Gov Debelle Speaks<\/li>\n<li>10:30 PM GMT &#8211; (GBP) BOE Gov Carney 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 up 1.25%, Shanghai Composite down 0.24%, Hang Seng up 0.32%, ASX up 1.27% Commodities : Gold at $1487.35 (+0.26%), Silver at $17.45 (+0.40%), Brent Oil at $58.85 (+0.19%), WTI Oil at $52.91 (+0.19%) Rates : US 10-year yield at 1.747, UK 10-year yield at 0.699, Germany 10-year yield &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/wednesday-16th-october-asian-stocks-gain-on-wall-street-cues\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 16th October: Asian stocks gain on Wall Street cues.<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":37063,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[339],"tags":[],"class_list":["post-37062","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\/37062","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=37062"}],"version-history":[{"count":1,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/37062\/revisions"}],"predecessor-version":[{"id":37064,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/37062\/revisions\/37064"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/37063"}],"wp:attachment":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=37062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=37062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=37062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}