{"id":37934,"date":"2019-12-04T18:19:57","date_gmt":"2019-12-04T07:19:57","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=37934"},"modified":"2019-12-04T18:19:57","modified_gmt":"2019-12-04T07:19:57","slug":"wednesday-4th-december-asian-markets-mixed-as-investors-fear-longer-broader-trade-war","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/wednesday-4th-december-asian-markets-mixed-as-investors-fear-longer-broader-trade-war\/","title":{"rendered":"Wednesday 4th December: Asian markets mixed as investors fear longer broader trade war"},"content":{"rendered":"<h3><strong>Global Markets:<\/strong><\/h3>\n<ul>\n<li>Asian Stock Markets : Nikkei down 1.05%, Shanghai Composite down 0.24%, Hang Seng down 1.21%, ASX down 1.58%<\/li>\n<li>Commodities : Gold at $1486.75 (+0.16%), Silver at $17.29 (+0.26%), Brent Oil at $61.32 (+0.82%), WTI Oil at $56.52 (+0.75%)<\/li>\n<li>Rates : US 10-year yield at 1.721, UK 10-year yield at 0.672, Germany 10-year yield at -0.354<\/li>\n<\/ul>\n<h3><strong>News &amp; Data:<\/strong><\/h3>\n<ul>\n<li>(CNY) Caixin Services PMI 53.5 vs 51.2 expected<\/li>\n<li>(AUD) GDP q\/q 0.40% vs 0.50% expected<\/li>\n<li>(AUD) Cash Rate 0.75% vs 0.75% expected<\/li>\n<li>(AUD) Current Account 7.9B vs 6.1B expected<\/li>\n<li>AU GDP Miss Undermines RBA&#8217;s &#8216;Gentle Turning Point&#8217;<\/li>\n<li>PBoC Fixes USDCNY Reference Rate At 7.0382<\/li>\n<\/ul>\n<h3><strong>Markets Update:<\/strong><\/h3>\n<p>Asian stock markets are extending losses on Wednesday from the previous session as optimism about an imminent U.S.-China trade deal faded after U.S. Donald Trump said that a trade agreement with China might have to wait until after the 2020 presidential elections. Adding to trade concerns, Trump threatened to impose duties of up to 100 percent on $2.4 billion in French imports, including champagne and handbags.<\/p>\n<p>Mainland Chinese stocks were mixed by the afternoon, with the Shanghai composite down about 0.2% while the Shenzhen component was up 0.3%. South Korea\u2019s Kospi traded 0.7% lower, as shares of chipmaker SK Hynix fell 1.5% \u2014 following overnight declines of Nvidia, Micron and Advanced Micro Devices on Wall Street. In Japan, the Nikkei 225 fell 1% in afternoon trade as shares of index heavyweight Fast Retailing plummeted more than 4%.<\/p>\n<p>In currency markets positive economic news from China&#8217;s services sector saved the yuan from a further thrashing, after it tumbled overnight. The Japanese yen and Swiss franc stood tall, while the Australian dollar tumbled after softer-than-expected growth figures backed prospects of further rate cuts.<\/p>\n<p>The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 97.736 after falling from levels above 97.9 seen earlier. Oil steadied after slipping overnight<\/p>\n<h3><strong>Upcoming Events:<\/strong><\/h3>\n<ul>\n<li>09:30 AM GMT &#8211; (GBP) Final Services PMI<\/li>\n<li>01:15 PM GMT &#8211; (USD) ADP Non-Farm Employment Change<\/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>03:00 PM GMT &#8211; (USD) ISM Non-Manufacturing PMI<\/li>\n<li>03:30 PM GMT &#8211; (USD) Crude Oil Inventories<\/li>\n<li><a href=\"https:\/\/www.icmarkets.com\/en\/education\/education-overview\/\">&amp;more&#8230;<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei down 1.05%, Shanghai Composite down 0.24%, Hang Seng down 1.21%, ASX down 1.58% Commodities : Gold at $1486.75 (+0.16%), Silver at $17.29 (+0.26%), Brent Oil at $61.32 (+0.82%), WTI Oil at $56.52 (+0.75%) Rates : US 10-year yield at 1.721, UK 10-year yield at 0.672, Germany 10-year yield &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/wednesday-4th-december-asian-markets-mixed-as-investors-fear-longer-broader-trade-war\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 4th December: Asian markets mixed as investors fear longer broader trade war<\/span><\/a><\/p>\n","protected":false},"author":8,"featured_media":37935,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[339],"tags":[],"class_list":["post-37934","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\/37934","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\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/comments?post=37934"}],"version-history":[{"count":1,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/37934\/revisions"}],"predecessor-version":[{"id":37936,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/37934\/revisions\/37936"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/37935"}],"wp:attachment":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=37934"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=37934"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=37934"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}