{"id":26592,"date":"2018-05-16T11:33:24","date_gmt":"2018-05-16T06:03:24","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=26592"},"modified":"2018-05-24T22:33:02","modified_gmt":"2018-05-24T17:03:02","slug":"wednesday-16th-may-asian-markets-fall-on-geo-political-tensions","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/wednesday-16th-may-asian-markets-fall-on-geo-political-tensions\/","title":{"rendered":"Wednesday 16th May: Asian Markets fall on geo-political tensions"},"content":{"rendered":"<h4>\n\t<span style=\"font-size:14px;\"><strong>Global Markets:<\/strong><\/span><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">Asian Stock Markets : Nikkei down 0.39%, Shanghai Composite down 0.17%, Hang Seng up 0.08%, ASX up 0.32%<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities : Gold at $1294.40 (+0.32%), Silver at $16.31 (+0.25%), Brent Oil at $78.27 (-0.20%), WTI Oil at $71.17 (-0.20%)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates : US 10-year yield at 3.069, UK 10-year yield at 1.518, Germany 10-year yield at 0.640<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<span style=\"font-size:14px;\"><strong>News &amp; Data:<\/strong><\/span><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">(NZD) GDT Price Index 1.90% vs -1.10% previous<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Empire State Manufacturing Index 20.1 vs 15.1 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Retail Sales m\/m 0.30% vs 0.40% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Core Retail Sales m\/m 0.30% vs 0.50% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) German ZEW Economic Sentiment -8.2 vs -8 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) Flash GDP q\/q 0.40% vs 0.40% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) Unemployment Rate 4.20% vs 4.20% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) Claimant Count Change 31.2K vs 13.3K expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) Average Earnings Index 3m\/y 2.60% vs 2.70% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CHF) PPI m\/m 0.40% vs 0.30% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) German Prelim GDP q\/q 0.30% vs 0.40% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Moody&#39;s: China unlikely to meet US demands on bilateral trade<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">North Korea: Will Never Engage In Economic Trade With United States In Exchange For Giving Up Its Nuclear Programme &ndash; KCNA<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<span style=\"font-size:14px;\"><strong>Markets Update:<\/strong><\/span><br \/>\n<\/h4>\n<p>\n\t<span style=\"font-size:14px;\">Asian shares fell today as North Korea pulled out of talks with US, insisting that they would not go ahead with a Libya style de-nuclearization. Pyongyang has called off talks with Seoul, and the threat of backing out looms over the planned Kim Jong Un &ndash; Trump meeting. Cues from the Wall Street were also negative, as increasing interest rates threatened to put a damper on global demand.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">The Japanese market is declining &ndash; following negative cues from the Wall Street. Investors also digested data that showed the Japanese economy contracted in the first quarter, snapping a string of eight straight quarters of expansion. Despite negative cues and geopolitical tension, the ASX is rising, supported by miners and energy stocks, whose forte has been held firm &ndash; given a rise in oil prices and stable commodity prices.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">The rise in yields hurt U.S. share markets on concerns it would undercut stock valuations.&nbsp;The strong U.S. data underpinned the dollar in currency markets. High-yielding Asian currencies were particularly vulnerable to higher U.S. yields, which could prompt investors to shift funds out of emerging markets. <\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">The yen largely shrugged off data that showed Japan&rsquo;s economy shrank by 0.6 percent on an annualized basis in the January-March quarter, a sharper contraction than the median estimate of 0.2 percent.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Crude oil prices remained near recent highs amid concerns U.S. sanctions on Iran may restrict crude exports from a major producer. In commodities markets, gold slightly rebounded after hitting a 4 1\/2-month low the previous day on a strong dollar.<\/span>\n<\/p>\n<h4>\n\t<span style=\"font-size:14px;\"><strong>Upcoming Events:<\/strong><\/span><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">09:00 AM GMT &#8211; (EUR) Final CPI y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:00 PM GMT &#8211; (EUR) ECB President Draghi Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 PM GMT &#8211; (CAD) Manufacturing Sales m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 PM GMT &#8211; (USD) Building Permits<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 PM GMT &#8211; (USD) FOMC Member Bostic Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 PM GMT &#8211; (USD) Housing Starts<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:15 PM GMT &#8211; (USD) Capacity Utilization Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:15 PM GMT &#8211; (USD) Industrial Production m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:30 PM GMT &#8211; (USD) Crude Oil Inventories<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">04:00 PM GMT &#8211; (CAD) Gov Council Member Schembri Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">04:00 PM GMT &#8211; (CHF) SNB Chairman Jordan Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<a href=\"https:\/\/www.icmarkets.com\/education\/forex-news-and-calendar\/\">&amp;more&hellip;<\/a>\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei down 0.39%, Shanghai Composite down 0.17%, Hang Seng up 0.08%, ASX up 0.32% Commodities : Gold at $1294.40 (+0.32%), Silver at $16.31 (+0.25%), Brent Oil at $78.27 (-0.20%), WTI Oil at $71.17 (-0.20%) Rates : US 10-year yield at 3.069, UK 10-year yield at 1.518, Germany 10-year yield &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/wednesday-16th-may-asian-markets-fall-on-geo-political-tensions\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 16th May: Asian Markets fall on geo-political tensions<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":26204,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-26592","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/26592","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/comments?post=26592"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/26592\/revisions"}],"predecessor-version":[{"id":26593,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/26592\/revisions\/26593"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/26204"}],"wp:attachment":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=26592"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=26592"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=26592"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}