{"id":40572,"date":"2020-05-06T18:19:13","date_gmt":"2020-05-06T08:19:13","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=40572"},"modified":"2020-05-06T18:19:13","modified_gmt":"2020-05-06T08:19:13","slug":"wednesday-6th-may-asian-markets-mostly-in-the-green-yuan-rate-eases-tensions","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/wednesday-6th-may-asian-markets-mostly-in-the-green-yuan-rate-eases-tensions\/","title":{"rendered":"Wednesday 6th May: Asian markets mostly in the green; Yuan rate eases tensions"},"content":{"rendered":"<h3><strong>Global Markets:<\/strong><\/h3>\n<ul>\n<li>Asian Stock Markets : Shanghai Composite up 0.63%, Hang Seng up 1.28%, ASX down 0.42%<\/li>\n<li>Commodities : Gold at $1713.65 (+0.18%), Silver at $15.32 (+1.40%), Brent Oil at $30.96 (-0.03%), WTI Oil at $24.35 (-0.86%)<\/li>\n<li>Rates : US 10-year yield at 0.674, UK 10-year yield at 0.216, Germany 10-year yield at -0.565<\/li>\n<\/ul>\n<h3><strong>News &amp; Data:<\/strong><\/h3>\n<ul>\n<li>(NZD) Unemployment Rate 4.20% vs 4.40% expected<\/li>\n<li>(NZD) Employment Change q\/q 0.70% vs -0.20% expected<\/li>\n<li>(USD) ISM Non-Manufacturing PMI 41.8 vs 37.5 expected<\/li>\n<li>(CAD) Trade Balance -1.4B vs -2.5B expected<\/li>\n<li>(GBP) Final Services PMI 13.4 vs 12.3 expected<\/li>\n<\/ul>\n<h3><strong>Markets Update:<\/strong><\/h3>\n<p>Asian shares extended gains on Wednesday, as investors saw China&#8217;s yuan fixing offering a modest olive branch to Washington amid a resurgence in trade tensions, while oil ended its winning streak on oversupply fears and weak demand.<\/p>\n<p>China&#8217;s central bank set the yuan at a broadly neutral midpoint, analysts said, helping take the focus off the exchange rate, a typically contentious point in Sino-U.S. ties. That helped mainland stocks claw back initial losses on their first day of trade since breaking for a holiday last week.<\/p>\n<p>Markets in Japan and Thailand were closed on Wednesday for holidays. Mainland Chinese stocks rose on the day, recovering from an earlier dip. The Shanghai composite was 0.6% higher while the Shenzhen composite gained 1.5%. In Australia, the S&amp;P\/ASX 200 dipped 0.4%.<\/p>\n<p>On the economic data front, Australia\u2019s retail sales in March rose 8.5%, according to data released Wednesday by the country\u2019s Bureau of Statistics. That was above expectations of a 8.2% increase from a Reuters poll. South Korea\u2019s KOSPI was up 1.8% and Hong Kong\u2019s Hang Seng Index gained 1.3%.<\/p>\n<p>Crude oil futures extended gains to a fifth straight session as prices rose sharply on Tuesday amid slightly easing worries about energy demand after several countries eased shutdown restrictions. The risk-sensitive Aussie and kiwi were up on the greenback, holding above 64 cents and 60 cents, respectively. The pound was steady at $1.2431. The dollar index was flat at 99.818.<\/p>\n<h3><strong>Upcoming Events:<\/strong><\/h3>\n<ul>\n<li>12:15 PM GMT &#8211; (USD) ADP Non-Farm Employment Change<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Shanghai Composite up 0.63%, Hang Seng up 1.28%, ASX down 0.42% Commodities : Gold at $1713.65 (+0.18%), Silver at $15.32 (+1.40%), Brent Oil at $30.96 (-0.03%), WTI Oil at $24.35 (-0.86%) Rates : US 10-year yield at 0.674, UK 10-year yield at 0.216, Germany 10-year yield at -0.565 News &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/wednesday-6th-may-asian-markets-mostly-in-the-green-yuan-rate-eases-tensions\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 6th May: Asian markets mostly in the green; Yuan rate eases tensions<\/span><\/a><\/p>\n","protected":false},"author":8,"featured_media":40573,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[339],"tags":[],"class_list":["post-40572","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\/40572","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=40572"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/40572\/revisions"}],"predecessor-version":[{"id":40574,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/40572\/revisions\/40574"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/40573"}],"wp:attachment":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=40572"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=40572"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=40572"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}