{"id":40896,"date":"2020-05-26T18:43:54","date_gmt":"2020-05-26T08:43:54","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=40896"},"modified":"2020-05-26T18:43:54","modified_gmt":"2020-05-26T08:43:54","slug":"tuesday-26th-may-asian-markets-gain-as-sp-futures-rally-beyond-critical-3000-mark","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/tuesday-26th-may-asian-markets-gain-as-sp-futures-rally-beyond-critical-3000-mark\/","title":{"rendered":"Tuesday 26th May:  Asian markets gain as S&#038;P futures rally beyond critical 3000 mark"},"content":{"rendered":"<h3><strong>Global Markets:<\/strong><\/h3>\n<ul>\n<li>Asian Stock Markets : Nikkei up 2.55%, Shanghai Composite up 1.01%, Hang Seng up 1.97%, ASX up 2.93%<\/li>\n<li>Commodities : Gold at $1726.70 (-0.51%), Silver at $17.90 (+1.17%), Brent Oil at $36.05 (+1.46%), WTI Oil at $34.12 (+2.62%)<\/li>\n<li>Rates : US 10-year yield at 0.695, UK 10-year yield at 0.181, Germany 10-year yield at -0.447<\/li>\n<\/ul>\n<h3><strong>News &amp; Data:<\/strong><\/h3>\n<ul>\n<li>(CHF) Trade Balance 4.04B vs 3.89B expected<\/li>\n<li>(EUR) German GfK Consumer Climate -18.9 vs -19.1 expected<\/li>\n<li>(JPY) BOJ Core CPI y\/y -0.10% vs 0.00% expected<\/li>\n<li>(JPY) All Industries Activity m\/m -3.80% vs -3.90% expected<\/li>\n<li>(JPY) SPPI y\/y 1.00% vs 1.30% expected<\/li>\n<li>(NZD) Trade Balance 1267M vs 1250M expected<\/li>\n<li>(EUR) Belgian NBB Business Climate -34.4 vs -29.7 expected<\/li>\n<li>(EUR) German ifo Business Climate 79.5 vs 78.3 expected<\/li>\n<li>(EUR) German Final GDP q\/q -2.20% vs -2.20% expected<\/li>\n<\/ul>\n<h3><strong>Markets Update:<\/strong><\/h3>\n<p>Asian stock markets, led by Japan, are mostly higher on Tuesday despite the absence of fresh cues from Wall Street, which was closed overnight for a holiday. Optimism about a global economic recovery as countries such as Japan and Spain ease lockdown restrictions and a survey showing an improvement in German business confidence lifted stocks. News that U.S. biotech firm Novavax has commenced the first human trial of its experimental coronavirus vaccine also bolstered sentiment.<\/p>\n<p>Hong Kong\u2019s Hang Seng index also saw robust gains, rising 2%. Mainland Chinese stocks advanced on the day, with the Shanghai composite up 1%. Japanese shares led gains among major markets in the region, with the Nikkei 225 up 2.6%. Meanwhile, shares in Australia jumped, with the S&amp;P\/ASX 200 up 2.9%.<\/p>\n<p>The U.S. dollar index, which tracks the greenback against a basket of its peers, last traded at 99.575 after declining from levels above 100 last week. Yields on U.S. 10-year notes were trading at 0.67% having recovered from a blip up to 0.68% last week when the market absorbed a tidal wave of new issuance. The decline in U.S. yields might have been a burden for the dollar but with rates everywhere near or less than zero, major currencies have been holding to tight ranges.<\/p>\n<p>Oil prices were supported by falling supplies as OPEC cut production and the number of U.S. and Canadian rigs dropped to record lows for the third week running.<\/p>\n<h3><strong>Upcoming Events:<\/strong><\/h3>\n<ul>\n<li>01:00 PM GMT &#8211; (EUR) ECB Financial Stability Review<\/li>\n<li>02:00 PM GMT &#8211; (USD) CB Consumer Confidence<\/li>\n<li>09:00 PM GMT &#8211; (CAD) BOC Gov Poloz Speaks<\/li>\n<li>09:00 PM GMT &#8211; (NZD) RBNZ Financial Stability Report<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei up 2.55%, Shanghai Composite up 1.01%, Hang Seng up 1.97%, ASX up 2.93% Commodities : Gold at $1726.70 (-0.51%), Silver at $17.90 (+1.17%), Brent Oil at $36.05 (+1.46%), WTI Oil at $34.12 (+2.62%) Rates : US 10-year yield at 0.695, UK 10-year yield at 0.181, Germany 10-year yield &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/tuesday-26th-may-asian-markets-gain-as-sp-futures-rally-beyond-critical-3000-mark\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Tuesday 26th May:  Asian markets gain as S&#038;P futures rally beyond critical 3000 mark<\/span><\/a><\/p>\n","protected":false},"author":8,"featured_media":40897,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[339],"tags":[],"class_list":["post-40896","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\/40896","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=40896"}],"version-history":[{"count":1,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/40896\/revisions"}],"predecessor-version":[{"id":40898,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/40896\/revisions\/40898"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/40897"}],"wp:attachment":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=40896"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=40896"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=40896"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}