{"id":38704,"date":"2020-01-22T18:15:54","date_gmt":"2020-01-22T07:15:54","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=38704"},"modified":"2020-01-22T18:15:54","modified_gmt":"2020-01-22T07:15:54","slug":"wednesday-22nd-january-asian-markets-brush-aside-economic-concerns-to-trade-higher","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/wednesday-22nd-january-asian-markets-brush-aside-economic-concerns-to-trade-higher\/","title":{"rendered":"Wednesday 22nd January: Asian markets brush aside economic concerns to trade higher"},"content":{"rendered":"<h3><strong>Global Markets:<\/strong><\/h3>\n<ul>\n<li>Asian Stock Markets : Nikkei up 0.70%, Shanghai Composite up 0.39%, Hang Seng up 1.07%, ASX up 0.94%<\/li>\n<li>Commodities : Gold at $1551.45 (-0.41%), Silver at $17.74 (-0.37%), Brent Oil at $64.36 (-0.36%), WTI Oil at $58.10 (-0.48%)<\/li>\n<li>Rates : US 10-year yield at 1.792, UK 10-year yield at 0.631, Germany 10-year yield at -0.236<\/li>\n<\/ul>\n<h3><strong>News &amp; Data:<\/strong><\/h3>\n<ul>\n<li>(AUD) Westpac Consumer Sentiment -1.80% vs -1.90% previous<\/li>\n<li>(CAD) Manufacturing Sales m\/m -0.60% vs -0.50% expected<\/li>\n<li>(EUR) German ZEW Economic Sentiment 26.7 vs 15.2 expected<\/li>\n<li>(GBP) Average Earnings Index 3m\/y 3.20% vs 3.10% expected<\/li>\n<li>Amazon boss Jeff Bezos&#8217;s phone &#8216;hacked by Saudi crown prince&#8217;<\/li>\n<li>China Experts Are Seeing A Possibility Of A Coronavirus Mutation &#8211; Xinhua<\/li>\n<\/ul>\n<h3><strong>Markets Update:<\/strong><\/h3>\n<p>Asian stock markets are mostly higher on Wednesday with some of the markets recovering after a weak start amid concerns about the spread of the deadly coronavirus from China and its potential impact on the global economy.<\/p>\n<p>Health officials have already confirmed cases of the coronavirus infection in Thailand, Japan, South Korea and Taiwan. The U.S. too confirmed its first case of the coronavirus in a patient who recently returned from Wuhan, China.<\/p>\n<p>Mainland Chinese stocks pared some losses after dropping more than 1% in the morning, with the Shanghai composite up 0.4% and the Shenzhen component up 0.9%. The Nikkei 225 was 0.7% higher while the Topix index added 0.5%. The Kospi in South Korea also gained 1.2%. Meanwhile, stocks in Australia rose as the S&amp;P\/ASX 200 added 0.9%.<\/p>\n<p>The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 97.653 after seeing lows around 97.4 yesterday. So far, the yield on U.S. 10-year government bonds has stabilized after Tuesday&#8217;s drop, sitting a little firmer at 1.7883%.<\/p>\n<p>The safe-haven yen eased slightly from the one-week high it touched overnight, although the yuan eased slightly in the onshore market to 6.8997 per dollar. Oil prices also settled back as traders figured a well-supplied global market would be able to absorb disruptions that have cut Libya&#8217;s crude production to a trickle.<\/p>\n<h3><strong>Upcoming Events:<\/strong><\/h3>\n<ul>\n<li>01:30 PM GMT &#8211; (CAD) CPI m\/m<\/li>\n<li>01:30 PM GMT &#8211; (CAD) Common CPI y\/y<\/li>\n<li>01:30 PM GMT &#8211; (CAD) Median CPI y\/y<\/li>\n<li>01:30 PM GMT &#8211; (CAD) Trimmed CPI y\/y<\/li>\n<li>03:00 PM GMT &#8211; (CAD) BOC Monetary Policy Report<\/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>04:15 PM GMT &#8211; (CAD) BOC Press Conference<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei up 0.70%, Shanghai Composite up 0.39%, Hang Seng up 1.07%, ASX up 0.94% Commodities : Gold at $1551.45 (-0.41%), Silver at $17.74 (-0.37%), Brent Oil at $64.36 (-0.36%), WTI Oil at $58.10 (-0.48%) Rates : US 10-year yield at 1.792, UK 10-year yield at 0.631, Germany 10-year yield &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/wednesday-22nd-january-asian-markets-brush-aside-economic-concerns-to-trade-higher\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 22nd January: Asian markets brush aside economic concerns to trade higher<\/span><\/a><\/p>\n","protected":false},"author":8,"featured_media":38705,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[339],"tags":[],"class_list":["post-38704","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\/38704","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=38704"}],"version-history":[{"count":1,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/38704\/revisions"}],"predecessor-version":[{"id":38706,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/38704\/revisions\/38706"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/38705"}],"wp:attachment":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=38704"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=38704"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=38704"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}