{"id":37283,"date":"2019-10-31T18:15:46","date_gmt":"2019-10-31T07:15:46","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=37283"},"modified":"2019-10-31T18:17:16","modified_gmt":"2019-10-31T07:17:16","slug":"asian-stocks-mixed-as-fed-cuts-rates-apec-summit-cancelled","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/asian-stocks-mixed-as-fed-cuts-rates-apec-summit-cancelled\/","title":{"rendered":"Thursday 31st October: Asian stocks mixed as Fed cuts Rates; APEC summit cancelled"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><strong>Global Markets:<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li>Asian Stock Markets : Nikkei up\n0.37%, Shanghai Composite down 0.44%, Hang Seng up 0.77%, ASX down 0.39%<\/li><li>Commodities : Gold at $1499.95\n(+0.22%), Silver at $17.93 (+0.37%), Brent Oil at $60.37 (+0.22%), WTI Oil at\n$55.14 (+0.15%)<\/li><li>Rates : US 10-year yield at\n1.777, UK 10-year yield at 0.684, Germany 10-year yield at -0.362<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>News &amp; Data:<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li>(CNY) Manufacturing PMI 49.3 vs\n49.9 expected<\/li><li>(AUD) Building Approvals m\/m\n7.60% vs 0.10% expected<\/li><li>(NZD) ANZ Business Confidence\n-42.4 vs -53.5 previous<\/li><li>(USD) Federal Funds Rate\n&lt;1.75% vs &lt;1.75% expected<\/li><li>(USD) Crude Oil Inventories\n5.7M vs 0.5M expected<\/li><li>(CAD) Overnight Rate 1.75% vs\n1.75% expected<\/li><li>(USD) Advance GDP Price Index\nq\/q 1.70% vs 1.80% expected<\/li><li>(USD) Advance GDP q\/q 1.90% vs\n1.60% expected<\/li><li>(USD) ADP Non-Farm Employment\nChange 125K vs 125K expected<\/li><li>(EUR) German Prelim CPI m\/m\n0.10% vs 0.00% expected<\/li><li>China launches 5G mobile phone\nservices<\/li><li>Cancelling APEC summit will not\naffect the arrangements of China-US trade talks <\/li><li>HSBC cuts Hong Kong prime rate\nfor first time in 11 years<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Markets Update:<\/strong><\/h3>\n\n\n\n<p>Asian stock markets are mixed on Thursday\nfollowing the positive cues overnight from Wall Street after the U.S. Federal\nReserve cut interest rates for the third time this year, but hinted it may put\nfurther monetary policy easing on hold. <\/p>\n\n\n\n<p>Investors also digested news that Chile has\ncancelled the Asia-Pacific Economic Cooperation or APEC summit scheduled to be\nheld in Santiago in mid-November, citing violent protests across the country.\nU.S. President Donald Trump and Chinese President Xi Jinping were due to meet\nat the summit to discuss and possibly sign phase one of a U.S.-China trade\ndeal.<\/p>\n\n\n\n<p>Mainland Chinese stocks shed earlier gains\nby the afternoon. The Shanghai composite slipped 0.4% and the Shenzhen\ncomponent fell 0.6%. China reported Thursday that factory activity in the\ncountry contracted for the sixth straight month in October. The official\nPurchasing Managers\u2019 Index (PMI) came in at 49.3 for October. In September, the\nofficial manufacturing PMI was 49.8, according to the country\u2019s statistics\nbureau. The 50 level for PMI readings separates expansion from contraction.<\/p>\n\n\n\n<p>In Japan, the Nikkei 225 rose 0.4%, with\nshares of index heavyweight Softbank Group surging 3.8%. The Topix index\nrecovered from its earlier slip to rise slightly. The Bank of Japan announced\nThursday that it would be keeping monetary policy steady, but signaled in its\nforward guidance a readiness to cut rates if required. South Korea\u2019s Kospi\ngained 0.9%. Elsewhere, the S&amp;P\/ASX 200 in Australia was down 0.4%, with\nthe heavily weighted financial subindex down more than 1% as shares of\nAustralia and New Zealand Banking Group tumbled more than 3% after the firm\nannounced that its statutory profit after tax for the full year ended September\n30 2019 had plunged 7% year-on-year.<\/p>\n\n\n\n<p>The yield on benchmark 10-year Treasury\nnotes fell to 1.7785% in Asia on Thursday, while the two-year yield eased\nslightly to 1.6216%. The dollar index against a basket of six major currencies\nfell 0.34% to 97.318, extending declines from Wednesday.<\/p>\n\n\n\n<p>In the energy market, oil futures erased\nloses and rose in Asia on Thursday after as a massive buildup in U.S. crude\nstock piles triggered a decline in futures on Wednesday.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Upcoming Events:<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li>03:32 AM GMT &#8211; (JPY) BOJ Outlook Report<\/li><li>03:32 AM GMT &#8211; (JPY) Monetary Policy Statement<\/li><li>06:30 AM GMT &#8211; (JPY) BOJ Press Conference<\/li><li>08:00 AM GMT &#8211; (EUR) Spanish Flash GDP q\/q<\/li><li>10:00 AM GMT &#8211; (EUR) CPI Flash Estimate y\/y<\/li><li>12:30 PM GMT &#8211; (CAD) GDP m\/m<\/li><li>12:30 PM GMT &#8211; (CAD) RMPI m\/m<\/li><li>12:30 PM GMT &#8211; (USD) Core PCE Price Index m\/m<\/li><li>12:30 PM GMT &#8211; (USD) Employment Cost Index q\/q<\/li><li>12:30 PM GMT &#8211; (USD) Personal Spending m\/m<\/li><li>01:45 PM GMT &#8211; (USD) Chicago PMI<\/li><li>03:30 PM GMT &#8211; (CHF) SNB Chairman Jordan Speaks<\/li><li><a href=\"http:\/\/ http:\/\/www.icmarkets.com\/education\/forex-news-and-calendar\/\">&amp;more&#8230;<\/a><\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei up 0.37%, Shanghai Composite down 0.44%, Hang Seng up 0.77%, ASX down 0.39% Commodities : Gold at $1499.95 (+0.22%), Silver at $17.93 (+0.37%), Brent Oil at $60.37 (+0.22%), WTI Oil at $55.14 (+0.15%) Rates : US 10-year yield at 1.777, UK 10-year yield at 0.684, Germany 10-year yield &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/asian-stocks-mixed-as-fed-cuts-rates-apec-summit-cancelled\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Thursday 31st October: Asian stocks mixed as Fed cuts Rates; APEC summit cancelled<\/span><\/a><\/p>\n","protected":false},"author":8,"featured_media":37284,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[339],"tags":[],"class_list":["post-37283","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-recent-posts"],"_links":{"self":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/37283","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\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/comments?post=37283"}],"version-history":[{"count":2,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/37283\/revisions"}],"predecessor-version":[{"id":37286,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/37283\/revisions\/37286"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/37284"}],"wp:attachment":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=37283"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=37283"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=37283"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}