{"id":28776,"date":"2018-10-25T17:25:00","date_gmt":"2018-10-25T06:25:00","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=28776"},"modified":"2018-11-02T01:34:19","modified_gmt":"2018-11-01T14:34:19","slug":"thursday-25th-october-asian-markets-lower-following-sell-off-on-wall-street","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/thursday-25th-october-asian-markets-lower-following-sell-off-on-wall-street\/","title":{"rendered":"Thursday 25th October: Asian markets lower following sell-off on Wall Street"},"content":{"rendered":"<h4>\n\t<strong><span style=\"font-size:14px;\">Global Markets:<\/span><\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">Asian Stock Markets : Nikkei down 3.70%, Shanghai Composite down 1.58%, Hang Seng down 2.04%, ASX down 2.83%<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities : Gold at $1239.20 (+0.66%), Silver at $14.76 (+0.54%), Brent Oil at $75.70 (-0.62%), WTI Oil at $66.33 (-0.73%)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates : US 10-year yield at 3.111, UK 10-year yield at 1.444, Germany 10-year yield at 0.390<\/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;\">(NZD) Trade Balance -1560M vs -1365M expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Crude Oil Inventories 6.3M vs 3.6M expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Overnight Rate 1.75% vs 1.75% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) Flash Services PMI 53.3 vs 54.5 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) Flash Manufacturing PMI 52.1 vs 53 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) German Flash Services PMI 53.6 vs 55.5 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) German Flash Manufacturing PMI 52.3 vs 53.4 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) French Flash Services PMI 55.6 vs 54.7 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) French Flash Manufacturing PMI 51.2 vs 52.4 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 shares plunged on Thursday as hundreds of billions of dollars hemorrhaged from global markets after a rout in tech stocks inflicted the largest daily decline on Wall Street since 2011, wiping out all its gains for the year. Stock investors have become increasingly nervous about lofty equities valuations, a likely peak in corporate earnings momentum, faster rate hikes in the United States and an ongoing Sino-U.S. trade war that threatens to hurt world growth. Worries about geopolitical tensions, trade wars and global economic growth also dampened investor sentiment.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">The Japanese market is losing more than 3 percent following the overnight sell-off on Wall Street and on a stronger safe-haven yen. Greater China markets remained in negative territory, with the Shanghai composite down 1.6 percent after retracing some of its early losses of more than 2.5 percent. <\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">The Shenzhen composite declined 1.5 percent. In Hong Kong, the Hang Seng index fell 2 percent. In South Korea, the Kospi fell 1.77 percent, with the index down more than 16 percent year-to-date. The Australian market fell to a new 12-month low, with stocks lower across the board. ASX 200 fell 2.8 percent; The energy subindex lost 2.4 percent while the heavily weighted financial sector was down 2.9 percent.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 96.301, declining from an earlier high of 96.377. The Japanese yen, widely viewed as a safe haven currency, was at 112.04 against the dollar after strengthening from levels above 112.6 in the previous session. Oil dropped as the stock market rout fuelled fears of a possible drop in oil demand growth.<\/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;\">08:00 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<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: 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 down 3.70%, Shanghai Composite down 1.58%, Hang Seng down 2.04%, ASX down 2.83% Commodities : Gold at $1239.20 (+0.66%), Silver at $14.76 (+0.54%), Brent Oil at $75.70 (-0.62%), WTI Oil at $66.33 (-0.73%) Rates : US 10-year yield at 3.111, UK 10-year yield at 1.444, Germany 10-year yield &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/thursday-25th-october-asian-markets-lower-following-sell-off-on-wall-street\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Thursday 25th October: Asian markets lower following sell-off on Wall Street<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":28779,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-28776","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\/28776","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=28776"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/28776\/revisions"}],"predecessor-version":[{"id":28778,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/28776\/revisions\/28778"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/28779"}],"wp:attachment":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=28776"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=28776"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=28776"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}