{"id":28755,"date":"2018-10-24T17:41:08","date_gmt":"2018-10-24T06:41:08","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=28755"},"modified":"2018-11-02T01:34:19","modified_gmt":"2018-11-01T14:34:19","slug":"wednesday-24th-october-asian-markets-escape-bear-territory-as-china-rebounds","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/wednesday-24th-october-asian-markets-escape-bear-territory-as-china-rebounds\/","title":{"rendered":"Wednesday 24th October: Asian markets escape bear territory as China rebounds"},"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 0.40%, Shanghai Composite up 0.49%, Hang Seng up 0.21%, ASX down 0.24% &nbsp;<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities : Gold at $1234.70 (-0.17%), Silver at $14.80 (+0.05%), Brent Oil at $76.78 (+0.44%), WTI Oil at $66.58 (+0.23%) <\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates : US 10-year yield at 3.156, UK 10-year yield at 1.478, Germany 10-year yield at 0.412<\/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) Richmond Manufacturing Index 15 vs 25 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) Consumer Confidence -3 vs -3 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) CBI Industrial Order Expectations -6 vs -1 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) German PPI m\/m 0.50% vs 0.30% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(JPY) BOJ Core CPI y\/y 0.50% vs 0.50% previous<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Italy Finance Minister Seeks Way Out Of Budget Impasse: Corriere<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Trump says Fed Chairman Powell &lsquo;almost looks like he&rsquo;s happy raising interest rates&rsquo;<\/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;\">Asia traded mostly higher Wednesday afternoon, following a turbulent morning session where stocks seesawed between gains and losses. Reuters reported on Wednesday that China&rsquo;s state planner approved fixed investment projects worth 697.7 billion yuan from January through September. Last week, President Xi\u202fJinping\u202foffered support to the country&rsquo;s private sector, while the State Council\u202falso said\u202fon Monday that it would support bond financing by private firms,\u202fadding that the People&rsquo;s Bank of China\u202fwill provide funding to facilitate this, although the central bank did not provide\u202fany details of the size of the plan\u202for a timeline at the moment.\u202f<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Greater China markets recovered, with Hong Kong&#39;s Hang Seng index gaining 0.21 percent. The Shanghai composite advanced by 0.5 percent. Meanwhile, Japan&#39;s Nikkei 225 recovered from earlier losses to see gains of 0.4 percent. The Flash Markit\/Nikkei Japan Manufacturing Purchasing Managers&#39; Index (PMI) rose to a seasonally adjusted 53.1 in October from a final 52.5 in September, official data showed. The ASX 200 struggled for gains, trading down 0.27 percent as the heavily-weighted financial sector rose 0.15 percent.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">The U.S. currency was given a lift as the 10-year Treasury note yield rebounded to 3.162 percent after stooping to a three-week low of 3.111 on Tuesday. China&rsquo;s yuan added to the previous day&rsquo;s modest gains and rose to 6.9367 per dollar in onshore trade, continuing its modest pull-back from a near two-year low of 6.9445 marked on Monday. Sterling briefly gained half a percent against the dollar on Tuesday after a media report that the European Union could offer British Prime Minister Theresa May a UK-wide customs union to clinch a Brexit deal.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Crude slumped after Saudi Arabia said it could supply more crude quickly if needed, easing concerns ahead of U.S. sanctions on Iran. The recent sell-off in global equities has also raised worries about slowing growth curbing demand for crude.<\/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;\">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<li>\n\t\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-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; background-color: initial;\">&amp;more&hellip;<\/a><\/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 up 0.40%, Shanghai Composite up 0.49%, Hang Seng up 0.21%, ASX down 0.24% &nbsp; Commodities : Gold at $1234.70 (-0.17%), Silver at $14.80 (+0.05%), Brent Oil at $76.78 (+0.44%), WTI Oil at $66.58 (+0.23%) Rates : US 10-year yield at 3.156, UK 10-year yield at 1.478, Germany 10-year &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/wednesday-24th-october-asian-markets-escape-bear-territory-as-china-rebounds\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 24th October: Asian markets escape bear territory as China rebounds<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":28756,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-28755","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\/28755","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=28755"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/28755\/revisions"}],"predecessor-version":[{"id":28757,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/28755\/revisions\/28757"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/28756"}],"wp:attachment":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=28755"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=28755"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=28755"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}