{"id":37348,"date":"2019-11-05T17:30:18","date_gmt":"2019-11-05T06:30:18","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=37348"},"modified":"2019-11-05T17:30:19","modified_gmt":"2019-11-05T06:30:19","slug":"tuesday-5th-november-asian-markets-gain-on-trade-optimism","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/tuesday-5th-november-asian-markets-gain-on-trade-optimism\/","title":{"rendered":"Tuesday 5th November: Asian Markets gain on trade optimism"},"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\n1.88%, Shanghai Composite up 0.80%, Hang Seng up 0.67%, ASX up 0.15%<\/li><li>Commodities : Gold at $1507.15\n(-0.26%), Silver at $18.03 (-0.19%), Brent Oil at $62.34 (+0.34%), WTI Oil at\n$56.66 (+0.21%)<\/li><li>Rates : US 10-year yield at\n1.805, UK 10-year yield at 0.712, Germany 10-year yield at -0.352<\/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>(AUD) Cash Rate 0.75% vs 0.75%\nexpected<\/li><li>(CNY) Caixin Services PMI 51.1\nvs 51.5 expected<\/li><li>(AUD) Retail Sales m\/m 0.20% vs\n0.40% expected<\/li><li>BoJ&#8217;s Kuroda: More issuance of\nsuper-long bonds may be meaningful, effect of fiscal policy higher amid yield\ncurve control<\/li><li>China central bank cuts\nmedium-term loan rate for first time since 2016 as growth cools<\/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 mostly higher with\nmodest gains on Tuesday following the record closing highs overnight on Wall\nStreet amid growing optimism about a U.S.-China trade deal. The Financial Times\nreported that the U.S. is considering dropping tariffs on $112 billion of\nChinese imports. The Japanese market, which resumed trading after a holiday on\nMonday, is notably higher.<\/p>\n\n\n\n<p>The Australian market pared initial gains\nand is trading flat as investors turned cautious ahead of the Reserve Bank of\nAustralia&#8217;s monetary policy decision due later in the day. The RBA is widely\nexpected to leave its benchmark lending rate unchanged at the record low of\n0.75 percent. Shares in Japan led the region following a return from a Monday\nholiday. <\/p>\n\n\n\n<p>The Nikkei 225 surged around 1.9% as shares\nof index heavyweight Softbank Group soared more than 2.5%, while the Topix\nindex jumped 1.7%. Both indexes were poised to close at their highest for 2019.\nMainland Chinese stocks were higher by the afternoon, with the Shanghai\ncomposite up 0.8% and Shenzhen composite gaining 0.7%.<\/p>\n\n\n\n<p>Bonds are losing some of their appeal and\nthe yield on benchmark 10-year notes rose back to 1.799% compared\nto last week\u2019s low of 1.670%. In the currency market, the dollar gained to\n108.60 yen, extending its recovery from 107.89 touched on Friday.<\/p>\n\n\n\n<p>Oil prices ticked lower in Asia but stayed\nnot far from their highest levels since late September, buoyed by an improved\noutlook for crude demand as better-than-expected U.S. jobs growth added to\nmarket hopes a preliminary U.S.-China trade deal would be reached this month.<\/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>09:30 AM GMT &#8211; (GBP) Services PMI<\/li><li>01:30 PM GMT &#8211; (CAD) Trade Balance<\/li><li>03:00 PM GMT &#8211; (USD) ISM Non-Manufacturing PMI<\/li><li>09:45 PM GMT &#8211; (NZD) Employment Change q\/q<\/li><li>09:45 PM GMT &#8211; (NZD) Unemployment Rate<\/li><li><a href=\"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 1.88%, Shanghai Composite up 0.80%, Hang Seng up 0.67%, ASX up 0.15% Commodities : Gold at $1507.15 (-0.26%), Silver at $18.03 (-0.19%), Brent Oil at $62.34 (+0.34%), WTI Oil at $56.66 (+0.21%) Rates : US 10-year yield at 1.805, UK 10-year yield at 0.712, Germany 10-year yield &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/tuesday-5th-november-asian-markets-gain-on-trade-optimism\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Tuesday 5th November: Asian Markets gain on trade optimism<\/span><\/a><\/p>\n","protected":false},"author":8,"featured_media":37349,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[339],"tags":[],"class_list":["post-37348","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\/37348","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=37348"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/37348\/revisions"}],"predecessor-version":[{"id":37350,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/37348\/revisions\/37350"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/37349"}],"wp:attachment":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=37348"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=37348"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=37348"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}