{"id":28717,"date":"2018-10-22T17:39:24","date_gmt":"2018-10-22T06:39:24","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=28717"},"modified":"2018-10-22T17:39:24","modified_gmt":"2018-10-22T06:39:24","slug":"monday-22nd-october-asian-markets-rebound-after-chinese-cuts-taxes","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/monday-22nd-october-asian-markets-rebound-after-chinese-cuts-taxes\/","title":{"rendered":"Monday 22nd October: Asian markets rebound after Chinese cuts taxes"},"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 0.41%, Shanghai Composite up 4.51%, Hang Seng up 2.34%, ASX down 0.58%<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities : Gold at $1229.40 (+0.06%), Silver at $14.65 (-0.03%), Brent Oil at $80.00 (+0.28%), WTI Oil at $69.55 (+0.39%)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates : US 10-year yield at 3.198, UK 10-year yield at 1.586, Germany 10-year yield at 0.463<\/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;\">(CAD) Trimmed CPI y\/y 2.10% vs 2.20% previous<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Retail Sales m\/m -0.10% vs 0.30% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Median CPI y\/y 2.00% vs 2.10% previous<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Common CPI y\/y 1.90% vs 2.00% previous<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Core Retail Sales m\/m -0.40% vs 0.10% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) CPI m\/m -0.40% vs 0.10% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) Public Sector Net Borrowing 3.3B vs 4.6B expected<\/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 share markets swung into the black on Monday as the promise of more stimulus boosted Chinese stocks for a second session and helped offset geopolitical concerns over Saudi Arabia, Italy and Brexit. China&#39;s tax cuts next year could be worth more than 1 percent of gross domestic product (GDP), a central bank adviser said in remarks published on Monday, in a sign policymakers might be considering another round of reductions. The government also published a draft version of new rules for tax deductions available to individuals.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Blue chips in Shanghai jumped 4.8 percent in the largest daily gain in three years, adding to Friday&#39;s bounce on Beijing&#39;s pledge of support for the economy and companies. The Shenzhen composite is up by 5%. In Hong Kong, the Hang Seng index rose 2.4 percent. Japan&#39;s Nikkei moved up 0.4 percent, after being down more than 1 percent earlier, while South Korean stocks were flat. The Australian market is losing ground after news that Australia&#39;s ruling Liberal Party was poised to lose a crucial by-election in Sydney that could rob the government of its one-seat parliamentary majority.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Saudi Arabia remained in the spotlight as Riyadh on Sunday called the killing of journalist Jamal Khashoggi a &quot;huge and grave mistake,&quot; but sought to shield its powerful crown prince from the widening crisis.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Italian bond yields hit their highest level since early 2014 on Friday and the premium investors demand in comparison to German debt is at a five and a half year high. Oil prices were stable on Monday, supported by supply concerns ahead of the start of U.S. sanctions against Iran&#39;s crude exports, but held back by rising drilling activity in the United States.<\/span>\n<\/p>\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;\"><span style=\"margin: 0px; padding: 0px; border: 0px; font: inherit; vertical-align: baseline;\"><span style=\"margin: 0px; padding: 0px; border: 0px; font: inherit; vertical-align: baseline;\"><span style=\"margin: 0px; padding: 0px; border: 0px; font: 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:<\/strong><\/span><\/span><\/span><\/span><\/span><\/span>\n<\/p>\n<div style=\"margin: 0px; padding: 0px; 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; color: rgb(84, 84, 84);\">\n<ul style=\"margin: 0px; padding-right: 30px; padding-left: 30px; border: 0px; font: inherit; vertical-align: baseline; list-style: circle outside;\">\n<li style=\"box-sizing: border-box;\">\n\t\t\t<span style=\"font-size:14px;\">EUR short 29K vs 16K&nbsp;short last week.&nbsp; Shorts increased by 13K<\/span>\n\t\t<\/li>\n<li style=\"box-sizing: border-box;\">\n\t\t\t<span style=\"font-size:14px;\">GBP short 50K vs 61K short last week. Shorts trimmed by 11K<\/span>\n\t\t<\/li>\n<li style=\"box-sizing: border-box;\">\n\t\t\t<span style=\"font-size:14px;\">JPY short 101K vs 115K short last week. Shorts trimmed by 14K<\/span>\n\t\t<\/li>\n<li style=\"box-sizing: border-box;\">\n\t\t\t<span style=\"font-size:14px;\">CHF short 13K vs 13K short last week. No change in position.<\/span>\n\t\t<\/li>\n<li style=\"box-sizing: border-box;\">\n\t\t\t<span style=\"font-size:14px;\">CAD short 11k vs 12k short&nbsp;last week. Shorts trimmed by 1K<\/span>\n\t\t<\/li>\n<li style=\"box-sizing: border-box;\">\n\t\t\t<span style=\"font-size:14px;\">AUD short 71k vs 73k short&nbsp;last week. Shorts trimmed by 2K<\/span>\n\t\t<\/li>\n<li style=\"box-sizing: border-box;\">\n\t\t\t<span style=\"font-size:14px;\">NZD short 35K vs 34K short last week. Shorts increased by 3K<\/span>\n\t\t<\/li>\n<\/ul>\n<\/div>\n<h4>\n\t<span style=\"font-size:14px;\"><strong>Upcoming Events<\/strong>:<\/span><br \/>\n<\/h4>\n<p>\n\t<span style=\"font-size:14px;\">Monday, October 22, 2018<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">11:35 PM GMT &#8211; (AUD) RBA Assist Gov Debelle Speaks<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size:14px;\">Tuesday, October 23, 2018<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">04:00 AM GMT &#8211; (AUD) RBA Assist Gov Bullock Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">05:30 AM GMT &#8211; (AUD) RBA Assist Gov Debelle Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">11:30 AM GMT &#8211; (GBP) MPC Member Haldane Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">04:20 PM GMT &#8211; (GBP) BOE Gov Carney Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">06:30 PM GMT &#8211; (USD) FOMC Member Bostic Speaks<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size:14px;\">Wednesday, October 24, 2018<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">08:15 AM GMT &#8211; (EUR) French Flash Manufacturing PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:15 AM GMT &#8211; (EUR) French Flash Services PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:30 AM GMT &#8211; (EUR) German Flash Manufacturing PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:30 AM GMT &#8211; (EUR) German Flash Services PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:00 AM GMT &#8211; (EUR) Flash Manufacturing PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:00 AM GMT &#8211; (EUR) Flash Services PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 PM GMT &#8211; (CAD) BOC Monetary Policy Report<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 PM GMT &#8211; (CAD) BOC Rate Statement<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 PM GMT &#8211; (CAD) Overnight Rate<\/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<li>\n\t\t<span style=\"font-size:14px;\">04:15 PM GMT &#8211; (CAD) BOC Press Conference<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">06:00 PM GMT &#8211; (USD) FOMC Member Bostic Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">06:10 PM GMT &#8211; (USD) FOMC Member Mester Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">10:45 PM GMT &#8211; (NZD) Trade Balance<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size:14px;\">Thursday, October 25, 2018<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">08:00 AM GMT &#8211; (EUR) Spanish Unemployment Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:00 AM GMT &#8211; (EUR) German Ifo Business Climate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:45 PM GMT &#8211; (EUR) Main Refinancing Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (EUR) ECB Press Conference<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Core Durable Goods Orders m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Durable Goods Orders m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">05:15 PM GMT &#8211; (USD) FOMC Member Clarida Speaks<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size:14px;\">Friday, October 26, 2018<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">02:00 AM GMT &#8211; (USD) FOMC Member Mester Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Advance GDP q\/q<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Advance GDP Price Index q\/q<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 PM GMT &#8211; (EUR) ECB President Draghi Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 PM GMT &#8211; (USD) Revised UoM Consumer Sentiment<\/span>\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei up 0.41%, Shanghai Composite up 4.51%, Hang Seng up 2.34%, ASX down 0.58% Commodities : Gold at $1229.40 (+0.06%), Silver at $14.65 (-0.03%), Brent Oil at $80.00 (+0.28%), WTI Oil at $69.55 (+0.39%) Rates : US 10-year yield at 3.198, UK 10-year yield at 1.586, Germany 10-year yield &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/monday-22nd-october-asian-markets-rebound-after-chinese-cuts-taxes\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Monday 22nd October: Asian markets rebound after Chinese cuts taxes<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":28718,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-28717","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\/28717","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=28717"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/28717\/revisions"}],"predecessor-version":[{"id":28719,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/28717\/revisions\/28719"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/28718"}],"wp:attachment":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=28717"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=28717"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=28717"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}