{"id":27423,"date":"2018-07-16T11:12:42","date_gmt":"2018-07-16T05:42:42","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=27423"},"modified":"2018-07-16T11:14:51","modified_gmt":"2018-07-16T05:44:51","slug":"monday-16th-july-asian-markets-slump-on-weak-chinese-data","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/monday-16th-july-asian-markets-slump-on-weak-chinese-data\/","title":{"rendered":"Monday 16th July: Asian markets slump on weak Chinese data"},"content":{"rendered":"<p>\n\t<span style=\"font-size:14px;\"><strong>Global Markets:<\/strong><\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">Asian Stock Markets : Shanghai Composite down 0.71%, Hang Seng down 0.22%, ASX down 0.47%<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities : Gold at $1244.50 (+0.27%), Silver at $15.87 (+0.35%), Brent Oil at $74.88 (-0.60%), WTI Oil at $69.44 (-0.73%)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates : US 10-year yield at 2.829, UK 10-year yield at 1.273, Germany 10-year yield at 0.280<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<strong style=\"font-size: 14px;\">News &amp; Data:<\/strong>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">(CNY) Industrial Production y\/y 6.00% vs 6.50% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CNY) Fixed Asset Investment ytd\/y 6.00% vs 6.00% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CNY) GDP q\/y 6.70% vs 6.70% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Prelim UoM Consumer Sentiment 97.1 vs 98.1 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">China GDP Growth Slows After Record Contraction In Shadow Banking Credit<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Property UK: Asking prices plateau as more homes hit the market for sale<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">EU leaders coming to China, Japan to counter U.S. protectionism<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"margin: 0px; padding: 0px; border: 0px; font-style: inherit; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: 14px; line-height: inherit; font-family: inherit; vertical-align: baseline;\"><span style=\"margin: 0px; padding: 0px; border: 0px; font: inherit; vertical-align: baseline;\"><strong style=\"margin: 0px; padding: 0px; border: 0px; font-style: inherit; font-variant: inherit; font-stretch: inherit; font-size: inherit; line-height: inherit; font-family: inherit; vertical-align: baseline;\">CFTC Positioning Data (Week Ending July 10th, 2018)<\/strong><\/span><\/span>\n<\/p>\n<ul style=\"margin: 0px; padding-right: 30px; padding-left: 30px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: inherit; font-family: Helvetica, Arial, sans-serif; vertical-align: baseline; list-style: circle outside; color: rgb(84, 84, 84);\">\n<li style=\"margin: 0px 0px 2px; padding: 0px 0px 0px 18px; border: 0px; font-style: inherit; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: inherit; line-height: 18px; font-family: inherit; vertical-align: baseline; list-style-type: disc; background: none; position: relative; box-sizing: border-box;\">\n\t\t<span style=\"font-size:14px;\">EUR long 24K vs 37K long last week <\/span>\n\t<\/li>\n<li style=\"margin: 0px 0px 2px; padding: 0px 0px 0px 18px; border: 0px; font-style: inherit; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: inherit; line-height: 18px; font-family: inherit; vertical-align: baseline; list-style-type: disc; background: none; position: relative; box-sizing: border-box;\">\n\t\t<span style=\"font-size:14px;\">GBP short 40K vs 29K short last week <\/span>\n\t<\/li>\n<li style=\"margin: 0px 0px 2px; padding: 0px 0px 0px 18px; border: 0px; font-style: inherit; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: inherit; line-height: 18px; font-family: inherit; vertical-align: baseline; list-style-type: disc; background: none; position: relative; box-sizing: border-box;\">\n\t\t<span style=\"font-size:14px;\">JPY short 40K vs 39K short last week <\/span>\n\t<\/li>\n<li style=\"margin: 0px 0px 2px; padding: 0px 0px 0px 18px; border: 0px; font-style: inherit; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: inherit; line-height: 18px; font-family: inherit; vertical-align: baseline; list-style-type: disc; background: none; position: relative; box-sizing: border-box;\">\n\t\t<span style=\"font-size:14px;\">CHF short 40K vs 40K short last week <\/span>\n\t<\/li>\n<li style=\"margin: 0px 0px 2px; padding: 0px 0px 0px 18px; border: 0px; font-style: inherit; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: inherit; line-height: 18px; font-family: inherit; vertical-align: baseline; list-style-type: disc; background: none; position: relative; box-sizing: border-box;\">\n\t\t<span style=\"font-size:14px;\">CAD short 53K vs 49K short last week<\/span>\n\t<\/li>\n<li style=\"margin: 0px 0px 2px; padding: 0px 0px 0px 18px; border: 0px; font-style: inherit; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: inherit; line-height: 18px; font-family: inherit; vertical-align: baseline; list-style-type: disc; background: none; position: relative; box-sizing: border-box;\">\n\t\t<span style=\"font-size:14px;\">AUD short 41k vs 39K short last week <\/span>\n\t<\/li>\n<li style=\"margin: 0px 0px 2px; padding: 0px 0px 0px 18px; border: 0px; font-style: inherit; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: inherit; line-height: 18px; font-family: inherit; vertical-align: baseline; list-style-type: disc; background: none; position: relative; box-sizing: border-box;\">\n\t\t<span style=\"font-size:14px;\">NZD short 27K vs 26K short last week<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<strong style=\"font-size: 14px;\">Markets Update:<\/strong>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Asian shares fell on Monday as new data showed China&rsquo;s economy slowed slightly in the second quarter, compounded by fears of a full-scale Sino-U.S. trade war looming over markets. Official data showed China&rsquo;s economy grew 6.7 percent in the second quarter of 2018, cooling from the 6.8 percent growth registered in each of the previous three quarters. While the GDP figures were in line with market expectations, the new data also showed slower-than-expected growth in China&rsquo;s industrial output, pointing to slowing momentum and prompting some analysts to call for stronger government measures to support growth. Taken together, the data show an economy continuing to slow under the influence of a multi-year crackdown on excessive financial risk, even as trade war headwinds gather.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">Markets in Japan are closed today in observance of Marine Day. The Australian market is declining in cautious trades ahead of quarterly production results from mining and energy companies later this week. With China being its largest trade partner, weak Chinese data did not help Australian markets. The Hang Seng is slightly in the red; with property and materials stocks slumping, and most of those losses offset by gains in the technology sector.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Major currencies have been in a holding pattern in recent days thanks in part to a lull in China-U.S. trade skirmishing. Investors had also been awaiting the China data, and are still looking to June U.S. retail sales figures, to gauge the state of global growth. In currencies, the dollar index, which tracks the U.S. dollar against a basket of currencies, traded at 94.66, marginally lower than Friday. Crude oil prices dropped, weighed by easing concerns about supply disruptions that had pushed prices higher.<\/span>\n<\/p>\n<p>\n\t<strong style=\"font-size: 14px;\">Upcoming Events:<\/strong>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Monday, July 16<sup>th<\/sup> 2018<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) Foreign Securities Purchases<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Core Retail Sales m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Retail Sales m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Empire State Manufacturing Index<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">11:45 PM GMT &#8211; (NZD) CPI q\/q<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size:14px;\">Tuesday, July 17<sup>th<\/sup> 2018&nbsp;&nbsp;<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">02:30 AM GMT &#8211; (AUD) Monetary Policy Meeting Minutes<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:00 AM GMT &#8211; (GBP) BOE Gov Carney Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) Average Earnings Index 3m\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) Claimant Count Change<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) Unemployment Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) Manufacturing Sales m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:15 PM GMT &#8211; (USD) Capacity Utilization Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:15 PM GMT &#8211; (USD) Industrial Production m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 PM GMT &#8211; (USD) Fed Chair Powell Testifies<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Tentative &#8211; (NZD) GDT Price Index<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size:14px;\">Wednesday, July 18<sup>th<\/sup> 2018<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) CPI y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) PPI Input m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) RPI y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">10:00 AM GMT &#8211; (EUR) Final CPI y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Building Permits<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Housing Starts<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 PM GMT &#8211; (USD) Fed Chair Powell Testifies<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:30 PM GMT &#8211; (USD) Crude Oil Inventories<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size:14px;\">Thursday, July 19<sup>th<\/sup> 2018<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">02:30 AM GMT &#8211; (AUD) Employment Change<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:30 AM GMT &#8211; (AUD) Unemployment Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) Retail Sales m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Philly Fed Manufacturing Index<\/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;\">02:00 PM GMT &#8211; (USD) FOMC Member Quarles Speaks<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size:14px;\">Friday, July 20<sup>th<\/sup> 2018&nbsp;&nbsp;<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) Public Sector Net Borrowing<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Tentative &#8211; (All) OPEC-JMMC Meetings<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Day 1 GMT &#8211; (All) G20 Meetings<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) CPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) Core Retail Sales m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) Common CPI y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) Median CPI y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) Retail Sales m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) Trimmed CPI y\/y<\/span>\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Shanghai Composite down 0.71%, Hang Seng down 0.22%, ASX down 0.47% Commodities : Gold at $1244.50 (+0.27%), Silver at $15.87 (+0.35%), Brent Oil at $74.88 (-0.60%), WTI Oil at $69.44 (-0.73%) Rates : US 10-year yield at 2.829, UK 10-year yield at 1.273, Germany 10-year yield at 0.280 News &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/monday-16th-july-asian-markets-slump-on-weak-chinese-data\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Monday 16th July: Asian markets slump on weak Chinese data<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":27425,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-27423","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\/27423","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=27423"}],"version-history":[{"count":3,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/27423\/revisions"}],"predecessor-version":[{"id":27427,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/27423\/revisions\/27427"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/27425"}],"wp:attachment":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=27423"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=27423"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=27423"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}