{"id":41342,"date":"2020-06-23T19:22:33","date_gmt":"2020-06-23T09:22:33","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=41342"},"modified":"2020-06-23T19:22:33","modified_gmt":"2020-06-23T09:22:33","slug":"tuesday-23rd-june-asian-markets-higher-as-navarro-clarifies-trade-deal-comments","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/tuesday-23rd-june-asian-markets-higher-as-navarro-clarifies-trade-deal-comments\/","title":{"rendered":"Tuesday 23rd June: Asian markets higher as Navarro clarifies trade deal comments"},"content":{"rendered":"<h3>Global Markets:<\/h3>\n<ul>\n<li>Asian Stock Markets : Nikkei up 0.50%, Shanghai Composite up 0.18%, Hang Seng up 1.46%, ASX up 0.17%<\/li>\n<li>Commodities : Gold at $1767.40 (+0.06%), Silver at $17.88 (-0.15%), Brent Oil at $43.28 (+0.46%), WTI Oil at $40.87 (+0.34%)<\/li>\n<li>Rates : US 10-year yield at 0.709, UK 10-year yield at 0.212, Germany 10-year yield at -0.422<\/li>\n<\/ul>\n<h3>News &amp; Data:<\/h3>\n<ul>\n<li>(EUR) German Flash Services PMI 45.8 vs 41.7 expected<\/li>\n<li>(EUR) German Flash Manufacturing PMI 44.6 vs 41.5 expected<\/li>\n<li>(EUR) French Flash Manufacturing PMI 52.1 vs 46.1 expected<\/li>\n<li>(EUR) French Flash Services PMI 50.3 vs 44.9 expected<\/li>\n<li>US Home Sales Plunged Most since 2008, Condos -41%. First-Ever April-May Price Drop in Normally Red-Hot Spring Selling Season<\/li>\n<li>Pandemic keeps Japan&#8217;s June manufacturing activity pinned at 11-year low &#8211; PMI<\/li>\n<\/ul>\n<h3>Markets Update:<\/h3>\n<p>Asian stock markets are mostly higher on Tuesday following the positive cues overnight from Wall Street amid optimism about a quick economic recovery from the coronavirus-induced setback. Investor sentiment also received a boost after White House trade advisor Peter Navarro clarified that the U.S.-China trade deal remains in place. Stocks had dropped earlier after media reports quoted Navarro as telling Fox News in an interview that the U.S. trade deal with China was &#8220;over&#8221;.<\/p>\n<p>In Japan, the Nikkei 225 and the Topix both rose 0.5%. Mainland Chinese stocks were higher on the day, with the Shanghai composite up 0.2% while the Shenzhen component rose 0.8%. Hong Kong\u2019s Hang Seng index rose 1.5%. Meanwhile, the S&amp;P\/ASX 200 in Australia closed 0.2% higher.<\/p>\n<p>Safe-haven gold, which initially rose on Navarro&#8217;s remarks, sold off on the clarification, while risk sensitive currencies staged a recovery. The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 97.016 after touching an earlier high of 97.245.<\/p>\n<h3>Upcoming Events:<\/h3>\n<ul>\n<li>08:30 AM GMT &#8211; (GBP) Flash Manufacturing PMI<\/li>\n<li>08:30 AM GMT &#8211; (GBP) Flash Services PMI<\/li>\n<li>08:45 AM GMT &#8211; (GBP) BOE Gov Bailey Speaks<\/li>\n<li>01:45 PM GMT &#8211; (USD) Flash Manufacturing PMI<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei up 0.50%, Shanghai Composite up 0.18%, Hang Seng up 1.46%, ASX up 0.17% Commodities : Gold at $1767.40 (+0.06%), Silver at $17.88 (-0.15%), Brent Oil at $43.28 (+0.46%), WTI Oil at $40.87 (+0.34%) Rates : US 10-year yield at 0.709, UK 10-year yield at 0.212, Germany 10-year yield &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/tuesday-23rd-june-asian-markets-higher-as-navarro-clarifies-trade-deal-comments\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Tuesday 23rd June: Asian markets higher as Navarro clarifies trade deal comments<\/span><\/a><\/p>\n","protected":false},"author":8,"featured_media":41347,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[339],"tags":[],"class_list":["post-41342","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\/41342","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=41342"}],"version-history":[{"count":2,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/41342\/revisions"}],"predecessor-version":[{"id":41349,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/41342\/revisions\/41349"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/41347"}],"wp:attachment":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=41342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=41342"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=41342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}