{"id":39082,"date":"2020-02-12T18:54:06","date_gmt":"2020-02-12T07:54:06","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=39082"},"modified":"2020-02-12T18:54:06","modified_gmt":"2020-02-12T07:54:06","slug":"wednesday-12th-february-asian-markets-higher-even-as-coronavirus-death-toll-hits-1100","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/wednesday-12th-february-asian-markets-higher-even-as-coronavirus-death-toll-hits-1100\/","title":{"rendered":"Wednesday 12th February: Asian markets higher even as Coronavirus death toll hits 1100"},"content":{"rendered":"<h3><strong>Global Markets:<\/strong><\/h3>\n<ul>\n<li>Asian Stock Markets : Nikkei up 0.74%, Shanghai Composite up 0.87%, Hang Seng up 1.01%, ASX up 0.47%<\/li>\n<li>Commodities : Gold at $1567.35 (-0.18%), Silver at $17.53 (-0.40%), Brent Oil at $55.14 (+2.09%), WTI Oil at $50.70 (+1.52%)<\/li>\n<li>Rates : US 10-year yield at 1.625, UK 10-year yield at 0.568, Germany 10-year yield at -0.369<\/li>\n<\/ul>\n<h3><strong>News &amp; Data:<\/strong><\/h3>\n<ul>\n<li>(NZD) Official Cash Rate 1.00% vs 1.00% expected<\/li>\n<li>(GBP) Manufacturing Production m\/m 0.30% vs 0.50% expected<\/li>\n<li>(GBP) GDP m\/m 0.30% vs 0.20% expected<\/li>\n<li>(GBP) Prelim GDP q\/q 0.00% vs 0.00% expected<\/li>\n<li>RBA\u2019s Heath Says Virus Is \u2018Serious Downside Risk\u2019 to Growth<\/li>\n<li>Fitch Affirms Korea at &#8216;AA-&#8216;; Outlook Stable<\/li>\n<\/ul>\n<h3><strong>Markets Update:<\/strong><\/h3>\n<p>Asian stock markets are mostly higher on Wednesday following the mostly positive cues overnight from Wall Street. Investor sentiment was also boosted after China&#8217;s senior medical adviser said in an interview with Reuters that the coronavirus outbreak may hit a peak in China this month and the epidemic may be over by April. The coronavirus has killed more than 1,100 people in China.<\/p>\n<p>Mainland Chinese stocks were higher by the afternoon, with the Shanghai composite recovering from its earlier slip to rise 0.9% while the Shenzhen component gained 1.2%.\u00a0 In Japan, the Nikkei 225 gained 0.7% as shares of index heavyweight and conglomerate Softbank Group jumped 13% after a judge stateside approved a merger between T-Mobile and Sprint. Meanwhile, South Korea\u2019s Kospi traded 0.7% higher. Stocks in Australia held on to gains, with the S&amp;P\/ASX 200 gaining 0.5% as shares of Commonwealth Bank of Australia surged 4%.<\/p>\n<p>The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 98.751 after declining from levels above 98.8 seen yesterday. Oil futures, which have been in a downtrend since the start of the year, rose in Asia from 13-month lows due to budding optimism about the virus and hopes that output cuts by major producers will support prices.<\/p>\n<p>The yuan gained slightly in onshore trade and safe-havens such as Treasuries, the yen and the Swiss franc were marginally weaker in a sign of slowly improving sentiment.<\/p>\n<h3><strong>Upcoming Events:<\/strong><\/h3>\n<ul>\n<li>03:00 PM GMT &#8211; (USD) Fed Chair Powell Testifies<\/li>\n<li>03:30 PM GMT &#8211; (USD) Crude Oil Inventories<\/li>\n<li>07:10 PM GMT &#8211; (NZD) RBNZ Gov Orr Speaks<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei up 0.74%, Shanghai Composite up 0.87%, Hang Seng up 1.01%, ASX up 0.47% Commodities : Gold at $1567.35 (-0.18%), Silver at $17.53 (-0.40%), Brent Oil at $55.14 (+2.09%), WTI Oil at $50.70 (+1.52%) Rates : US 10-year yield at 1.625, UK 10-year yield at 0.568, Germany 10-year yield &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/wednesday-12th-february-asian-markets-higher-even-as-coronavirus-death-toll-hits-1100\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 12th February: Asian markets higher even as Coronavirus death toll hits 1100<\/span><\/a><\/p>\n","protected":false},"author":8,"featured_media":39083,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[339],"tags":[],"class_list":["post-39082","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\/39082","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=39082"}],"version-history":[{"count":1,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/39082\/revisions"}],"predecessor-version":[{"id":39084,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/39082\/revisions\/39084"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/39083"}],"wp:attachment":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=39082"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=39082"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=39082"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}