{"id":28111,"date":"2018-09-06T11:43:55","date_gmt":"2018-09-06T06:13:55","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=28111"},"modified":"2018-09-06T11:43:55","modified_gmt":"2018-09-06T06:13:55","slug":"thursday-6th-september-asian-markets-search-for-the-bottom-of-the-endless-fall","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/thursday-6th-september-asian-markets-search-for-the-bottom-of-the-endless-fall\/","title":{"rendered":"Thursday 6th September: Asian markets search for the bottom of the endless fall"},"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 0.46%, Shanghai Composite down 0.15%, Hang Seng down 1.22%, ASX down 1.24%<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities : Gold at $1201.60 (+0.02%), Silver at $14.19 (-0.25%), Brent Oil at $77.11 (-0.21%), WTI Oil at $68.53 (-0.28%)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates : US 10-year yield at 2.904, UK 10-year yield at 1.466, Germany 10-year yield at 0.384<\/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;\">(AUD) Trade Balance 1.55B vs 1.46B 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;\">(CAD) Labor Productivity q\/q 0.70% vs 0.50% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Trade Balance -0.1B vs -1.1B expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) Services PMI 54.3 vs 53.9 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">ANZ follows Westpac and lifts it variable home loan rates by 16bp<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Iran&#39;s Currency Crashes. Shortages and Fears Rise<\/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 for a sixth straight session on Thursday as oil skidded and safe-haven gold gained, with investor confidence shaken by turmoil in emerging markets and jitters over a potentially severe escalation in the U.S.-China trade war. News that U.S. President Donald Trump intends to impose tariffs on another $200 billion worth of Chinese imports as soon as a public consultation period ends on Thursday have sent investors into severe risk aversion.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">The Nikkei 225 saw a decline of 0.46%, as video game company Nintendo&#39;s stock recovered slightly from its earlier low but still traded down by around 3.5 percent. South Korea&#39;s KOSPI was largely flat, but major tech names such as Samsung Electronics and SK Hynix still saw losses.&shy; Over in the Greater China region, Hong Kong&#39;s Hang Seng index was down by as much as -1.25%. On the mainland, the Shanghai composite largely bucked the overall trend to trade flat while the Shenzhen composite was down 0.4%.The Australian market is notably lower following the mostly negative cues from Wall Street. Mining stocks are mostly higher, whereas gold and oil stocks are lower.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Emerging market (EM) currencies remained in focus with the carnage that has continued this week, hitting not just the Argentine peso and Turkish lira but also Asian currencies like the Indonesian rupiah and Indian rupee. Argentina&rsquo;s peso had some respite on Wednesday as government officials in Washington sought emergency funding to stem an economic crisis. The cash-strapped nation is asking the International Monetary Fund for early disbursements from a $50 billion standby loan agreed in June, which had failed to clear concerns about the country&rsquo;s ability to pay off its debt. Elsewhere, sterling gained for a second day as investors positioned for a favourable Brexit outcome. n commodities, oil prices fell as emerging market woes weighed on sentiment.<\/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;\">01:15 PM GMT &#8211; (USD) ADP Non-Farm Employment Change<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 PM GMT &#8211; (USD) ISM Non-Manufacturing PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 PM GMT &#8211; (USD) FOMC Member Williams Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">04:00 PM GMT &#8211; (USD) Crude Oil Inventories<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">05:30 PM GMT &#8211; (CHF) Gov Board Member Zurbrugg Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">07:30 PM GMT &#8211; (CAD) Gov Council Member Wilkins Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\"><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-style: inherit; font-variant: inherit; font-weight: inherit; font-stretch: inherit; line-height: inherit; font-family: inherit; vertical-align: baseline;\"><span style=\"margin: 0px; padding: 0px; border: 0px; font: inherit; vertical-align: baseline;\"><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;\">&amp;more&hellip;<\/a><\/span><\/span><\/span><\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei down 0.46%, Shanghai Composite down 0.15%, Hang Seng down 1.22%, ASX down 1.24% Commodities : Gold at $1201.60 (+0.02%), Silver at $14.19 (-0.25%), Brent Oil at $77.11 (-0.21%), WTI Oil at $68.53 (-0.28%) Rates : US 10-year yield at 2.904, UK 10-year yield at 1.466, Germany 10-year yield &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/thursday-6th-september-asian-markets-search-for-the-bottom-of-the-endless-fall\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Thursday 6th September: Asian markets search for the bottom of the endless fall<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":28112,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-28111","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\/28111","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=28111"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/28111\/revisions"}],"predecessor-version":[{"id":28113,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/28111\/revisions\/28113"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/28112"}],"wp:attachment":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=28111"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=28111"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=28111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}