{"id":40968,"date":"2020-05-29T18:14:40","date_gmt":"2020-05-29T08:14:40","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=40968"},"modified":"2020-05-29T18:14:40","modified_gmt":"2020-05-29T08:14:40","slug":"friday-29th-may-asian-markets-mostly-lower-as-investors-await-trumps-china-statement","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/friday-29th-may-asian-markets-mostly-lower-as-investors-await-trumps-china-statement\/","title":{"rendered":"Friday 29th May: Asian markets mostly lower as investors await Trump&#8217;s China statement."},"content":{"rendered":"<h3><strong>Global Markets:<\/strong><\/h3>\n<ul>\n<li>Asian Stock Markets : Nikkei down 0.18%, Shanghai Composite up 0.22%, Hang Seng down 0.75%, ASX down 1.63%<\/li>\n<li>Commodities : Gold at $1716.80 (+0.20%), Silver at $17.92 (-0.27%), Brent Oil at $35.16 (-2.41%), WTI Oil at $32.71 (-2.97%)<\/li>\n<li>Rates : US 10-year yield at 0.671, UK 10-year yield at 0.192, Germany 10-year yield at -0.433<\/li>\n<\/ul>\n<h3><strong>News &amp; Data:<\/strong><\/h3>\n<ul>\n<li>(USD) Pending Home Sales m\/m -21.80% vs -15.00% expected<\/li>\n<li>(USD) Unemployment Claims 2123K vs 2100K expected<\/li>\n<li>(USD) Durable Goods Orders m\/m -17.20% vs -19.00% expected<\/li>\n<li>(USD) Core Durable Goods Orders m\/m -7.40% vs -14.80% expected<\/li>\n<li>(USD) Prelim GDP q\/q -5.00% vs -4.80% expected<\/li>\n<li>German Foreign Minister: Long Way Off On Agreeing About EU Recovery Fund<\/li>\n<\/ul>\n<h3><strong>Markets Update:<\/strong><\/h3>\n<p>Asian stock markets are lower on Friday as worries about rising U.S.-China tensions more than offset optimism about a recovery in growth as more economies reopen.<\/p>\n<p>China approved a controversial national security law for Hong Kong on Thursday, triggering concerns that the new law will end the city&#8217;s autonomy. In response, U.S. President Donald Trump said he plans to hold a news conference about China later today.<\/p>\n<p>The Nikkei 225 declined 0.2% on the day, as opposed to the 0.9% shed by the Topix. Australia\u2019s ASX 200 declined 1.6% as shares of major banks such as Commonwealth Bank of Australia and Westpac dropped. Mainland Chinese stocks edged higher on the day, with the Shenzhen component up 0.9% while the Shanghai composite gained 0.2%. Hong Kong\u2019s Hang Seng index dipped 0.8%.<\/p>\n<p>The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 98.238 after an earlier high of 98.547. The euro was headed for its best month since December as the European Union&#8217;s 750-billion-euro coronavirus recovery fund fuelled optimism about the bloc and its political future.<\/p>\n<h3><strong>Upcoming Events:<\/strong><\/h3>\n<ul>\n<li>12:30 PM GMT &#8211; (CAD) GDP m\/m<\/li>\n<li>12:30 PM GMT &#8211; (CAD) RMPI m\/m<\/li>\n<li>12:30 PM GMT &#8211; (USD) Core PCE Price Index m\/m<\/li>\n<li>12:30 PM GMT &#8211; (USD) Personal Spending m\/m<\/li>\n<li>01:45 PM GMT &#8211; (USD) Chicago PMI<\/li>\n<li>02:00 PM GMT &#8211; (USD) Revised UoM Consumer Sentiment<\/li>\n<li>03:00 PM GMT &#8211; (USD) Fed Chair Powell Speaks<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei down 0.18%, Shanghai Composite up 0.22%, Hang Seng down 0.75%, ASX down 1.63% Commodities : Gold at $1716.80 (+0.20%), Silver at $17.92 (-0.27%), Brent Oil at $35.16 (-2.41%), WTI Oil at $32.71 (-2.97%) Rates : US 10-year yield at 0.671, UK 10-year yield at 0.192, Germany 10-year yield &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/friday-29th-may-asian-markets-mostly-lower-as-investors-await-trumps-china-statement\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Friday 29th May: Asian markets mostly lower as investors await Trump&#8217;s China statement.<\/span><\/a><\/p>\n","protected":false},"author":8,"featured_media":40969,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[339],"tags":[],"class_list":["post-40968","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\/40968","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=40968"}],"version-history":[{"count":1,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/40968\/revisions"}],"predecessor-version":[{"id":40970,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/40968\/revisions\/40970"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/40969"}],"wp:attachment":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=40968"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=40968"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=40968"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}