{"id":27382,"date":"2018-07-12T11:27:31","date_gmt":"2018-07-12T05:57:31","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=27382"},"modified":"2018-07-12T11:27:31","modified_gmt":"2018-07-12T05:57:31","slug":"thursday-12th-july-asian-markets-recover-despite-continued-trade-war-concerns","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/thursday-12th-july-asian-markets-recover-despite-continued-trade-war-concerns\/","title":{"rendered":"Thursday 12th July: Asian markets recover despite continued trade war concerns"},"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 up 1.26%, Shanghai Composite up 2.26%, Hang Seng up 0.94%, ASX up 1.03%<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities : Gold at $1243.60 (-0.06%), Silver at $15.85 (+0.18%), Brent Oil at $74.61 (+1.65%), WTI Oil at $70.83 (+0.64%)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates : US 10-year yield at 2.860, UK 10-year yield at 1.293, Germany 10-year yield at 0.303<\/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;\">(USD) Core PPI m\/m 0.30% vs 0.20% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) PPI m\/m 0.30% vs 0.20% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Overnight Rate 1.50% vs 1.50% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Crude Oil Inventories -12.6M vs -4.1M expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">China&#39;s Commerce Ministry Alters Regular Press Conference Time<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">PBOC set the Yuan reference rate at 6.6723<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Properties taking longer to sell in sluggish market, says RICS<\/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 stock markets are higher on Thursday, recovering from the sharp losses in the previous session, despite the weak cues overnight from Wall Street as well as lower commodity prices amid escalating U.S.-China trade tensions. The Chinese market is leading the rebound. Crude oil prices also advanced in Asian trades after falling sharply overnight.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">The Japanese market is notably higher, recovering from sharp losses in the previous session. The Australian market is also advancing, as gains made by banks helped offset weakness in resources stocks.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Elsewhere, Hong Kong&#39;s Hang Seng Index edged up by 0.71 percent, with property, financials and consumer goods stocks rising more than 1 percent. On the mainland, Shanghai composite &nbsp;and the smaller Shenzhen composite both advanced more than 2 percent, paring Wednesday&#39;s sharp.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">China&rsquo;s yuan strengthened 0.3 percent versus the dollar, partially recovering from a big slide the previous day and pulling back from 11-month lows brushed last week. The yuan firmed after the currency&rsquo;s Thursday midpoint, set by the People&rsquo;s Bank of China, was not as weak as the market braced for. The dollar was buoyant, supported by mounting trade tensions and Wednesday&rsquo;s strong U.S. inflation data. <\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">The dollar index against a basket of six major currencies was steady at 94.700 after gaining 0.6 percent overnight. Against the yen, which usually strengthens in times of political tension and market turmoil, the greenback stretched its overnight rally and rose to 112.385 yen, its highest since January.<\/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;\">09:30 AM GMT &#8211; (GBP) BOE Credit Conditions Survey<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 PM GMT &#8211; (EUR) ECB Monetary Policy Meeting Accounts<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) NHPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) CPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Core CPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Unemployment Claims<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">11:30 PM GMT &#8211; (NZD) Business NZ Manufacturing Index<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\"><a href=\"https:\/\/www.icmarkets.com\/education\/forex-news-and-calendar\/\" style=\"margin: 0px; padding: 0px; border: 0px; font: inherit; vertical-align: baseline; color: rgb(0, 114, 188); text-decoration-line: none; outline: 0px; background-color: initial;\">&amp;more&hellip;<\/a><\/span>\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei up 1.26%, Shanghai Composite up 2.26%, Hang Seng up 0.94%, ASX up 1.03% Commodities : Gold at $1243.60 (-0.06%), Silver at $15.85 (+0.18%), Brent Oil at $74.61 (+1.65%), WTI Oil at $70.83 (+0.64%) Rates : US 10-year yield at 2.860, UK 10-year yield at 1.293, Germany 10-year yield &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/thursday-12th-july-asian-markets-recover-despite-continued-trade-war-concerns\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Thursday 12th July: Asian markets recover despite continued trade war concerns<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":27384,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-27382","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\/27382","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=27382"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/27382\/revisions"}],"predecessor-version":[{"id":27383,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/27382\/revisions\/27383"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/27384"}],"wp:attachment":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=27382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=27382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=27382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}