{"id":40686,"date":"2020-05-13T18:15:25","date_gmt":"2020-05-13T08:15:25","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=40686"},"modified":"2020-05-13T18:15:25","modified_gmt":"2020-05-13T08:15:25","slug":"wednesday-13th-may-asian-markets-fall-as-virus-worries-gain-traction","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/wednesday-13th-may-asian-markets-fall-as-virus-worries-gain-traction\/","title":{"rendered":"Wednesday 13th May:  Asian markets fall as virus worries gain traction"},"content":{"rendered":"<h3><strong>Global Markets:<\/strong><\/h3>\n<ul>\n<li>Asian Stock Markets : Nikkei down 0.49%, Shanghai Composite up 0.22%, Hang Seng down 0.32%, ASX up 0.35%<\/li>\n<li>Commodities : Gold at $1705.15 (-0.10%), Silver at $15.64 (-0.46%), Brent Oil at $29.18 (-2.67%), WTI Oil at $25.38 (-1.55%)<\/li>\n<li>Rates : US 10-year yield at 0.661, UK 10-year yield at 0.219, Germany 10-year yield at -0.536<\/li>\n<\/ul>\n<h3><strong>News &amp; Data:<\/strong><\/h3>\n<ul>\n<li>(NZD) Official Cash Rate 0.25% vs 0.25% expected<\/li>\n<li>(AUD) Wage Price Index q\/q 0.50% vs 0.50% expected<\/li>\n<li>(USD) Core CPI m\/m -0.40% vs -0.20% expected<\/li>\n<li>(USD) CPI m\/m -0.80% vs -0.70% expected<\/li>\n<li>(AUD) NAB Business Confidence -46 vs -65 previous<\/li>\n<\/ul>\n<h3><strong>Markets Update:<\/strong><\/h3>\n<p>Asian stock markets are mostly lower on Wednesday following the negative cues overnight from Wall Street amid fears the easing of lockdown restrictions around the world will lead to a second wave of coronavirus infections.<\/p>\n<p>Worries about U.S.-China tensions also weighed on the markets after a leading U.S. Republican senator proposed a legislation that would authorize President Donald Trump to impose sanctions on China if it did not provide a full account of the events leading to the coronavirus outbreak.<\/p>\n<p>In Japan, the Nikkei 225 declined 0.5%. The S&amp;P\/ASX 200 in Australia added 0.35% in its final hour after trading lower throughout the day. Mainland Chinese stocks nudged higher on the day, with the Shanghai composite up 0.2% while the Shenzhen composite added 0.6%. Hong Kong\u2019s Hang Seng index traded lower by 0.3%.<\/p>\n<p>The U.S. dollar nursed losses as traders braced for Powell&#8217;s speech, which will cover economic issues and may offer a hint whether negative rates are a viable policy option. Trump on Tuesday again pushed the Fed to adopt negative interest rates, a hot topic in financial markets since last week when U.S. money market instruments started to price in a chance of negative rates.<\/p>\n<p>U.S. consumer prices dropped 0.8% in April, the biggest since the Great Recession, raising the spectre of deflation. Oil futures fell in Asia as worries about the virus overcame hope that output cuts will put a floor under prices.<\/p>\n<h3><strong>Upcoming Events:<\/strong><\/h3>\n<ul>\n<li>Tentative &#8211; (NZD) RBNZ Press Conference<\/li>\n<li>06:00 AM GMT &#8211; (GBP) Prelim GDP q\/q<\/li>\n<li>06:00 AM GMT &#8211; (GBP) GDP m\/m<\/li>\n<li>06:00 AM GMT &#8211; (GBP) Manufacturing Production m\/m<\/li>\n<li>12:30 PM GMT &#8211; (USD) Core PPI m\/m<\/li>\n<li>12:30 PM GMT &#8211; (USD) PPI m\/m<\/li>\n<li>01:00 PM GMT &#8211; (USD) Fed Chair Powell Speaks<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei down 0.49%, Shanghai Composite up 0.22%, Hang Seng down 0.32%, ASX up 0.35% Commodities : Gold at $1705.15 (-0.10%), Silver at $15.64 (-0.46%), Brent Oil at $29.18 (-2.67%), WTI Oil at $25.38 (-1.55%) Rates : US 10-year yield at 0.661, UK 10-year yield at 0.219, Germany 10-year yield &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/wednesday-13th-may-asian-markets-fall-as-virus-worries-gain-traction\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 13th May:  Asian markets fall as virus worries gain traction<\/span><\/a><\/p>\n","protected":false},"author":8,"featured_media":40687,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[339],"tags":[],"class_list":["post-40686","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\/40686","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=40686"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/40686\/revisions"}],"predecessor-version":[{"id":40688,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/40686\/revisions\/40688"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/40687"}],"wp:attachment":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=40686"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=40686"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=40686"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}