{"id":41392,"date":"2020-06-25T17:32:18","date_gmt":"2020-06-25T07:32:18","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=41392"},"modified":"2020-06-25T17:32:18","modified_gmt":"2020-06-25T07:32:18","slug":"thursday-25th-june-asian-markets-lose-as-imf-projects-deeper-contraction","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/thursday-25th-june-asian-markets-lose-as-imf-projects-deeper-contraction\/","title":{"rendered":"Thursday 25th June: Asian markets lose as IMF projects deeper contraction"},"content":{"rendered":"<h3><strong>Global Markets:<\/strong><\/h3>\n<ul>\n<li>Asian Stock Markets : Nikkei down 1.22%, ASX down 2.48%<\/li>\n<li>Commodities : Gold at $1777.35 (+0.13%), Silver at $17.66 (-0.04%), Brent Oil at $40.01 (-0.74%), WTI Oil at $37.75 (-0.68%)<\/li>\n<li>Rates : US 10-year yield at 0.672, UK 10-year yield at 0.189, Germany 10-year yield at -0.452<\/li>\n<\/ul>\n<h3><strong>News &amp; Data:<\/strong><\/h3>\n<ul>\n<li>(EUR) German GfK Consumer Climate -9.6 vs -11.7 expected<\/li>\n<li>(JPY) All Industries Activity m\/m -6.40% vs -6.50% expected<\/li>\n<li>(NZD) Trade Balance 1253M vs 1279M expected<\/li>\n<li>(USD) Crude Oil Inventories 1.4M vs 1.2M expected<\/li>\n<li>(USD) HPI m\/m 0.20% vs 0.30% expected<\/li>\n<li>(EUR) Belgian NBB Business Climate -22.9 vs -25.1 expected<\/li>\n<li>(EUR) German ifo Business Climate 86.2 vs 85 expected<\/li>\n<li>(CHF) Credit Suisse Economic Expectations 48.7 vs 31.3 previous<\/li>\n<li>China taps World Bank official for U.S.-facing finance post: sources<\/li>\n<li>New forecast predicts 180,000 U.S. deaths from COVID-19 by October<\/li>\n<\/ul>\n<h3><strong>Markets Update:<\/strong><\/h3>\n<p>Asian stock markets are in negative territory on Thursday following the overnight sell-off on Wall Street as the spiking number of new coronavirus cases in several U.S. states dashed hopes of a quick economic recovery. Adding to worries, the International Monetary Fund or IMF forecast a deeper recession for this year, saying it now expects the global economy to shrink by 4.9 percent in 2020, compared to a 3 percent contraction projected earlier.<\/p>\n<p>Markets in China and Hong Kong are closed on Thursday for a holiday. The Japanese market is notably lower, with the benchmark Nikkei 225 Index losing 1.2 percent. Market heavyweight SoftBank Group is adding 0.2 percent, while Fast Retailing is declining more than 1 percent.<\/p>\n<p>Shares in Australia also declined, with the S&amp;P\/ASX 200 falling 2.5%. South Korea\u2019s Kospi led losses among the region\u2019s major markets as it slipped 1.8%. Over in Southeast Asia, the Straits Times index fell 1.3%.<\/p>\n<p>The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 97.32 after rising from levels below 97 seen earlier.<\/p>\n<p>Crude oil prices declined sharply on Wednesday as worries about the outlook for energy demand rose after data showing a surge in coronavirus cases raised the possibility of another lockdown in several parts of the globe.<\/p>\n<h3><strong>Upcoming Events:<\/strong><\/h3>\n<ul>\n<li>12:30 PM GMT &#8211; (USD) Core Durable Goods Orders m\/m<\/li>\n<li>12:30 PM GMT &#8211; (USD) Durable Goods Orders m\/m<\/li>\n<li>12:30 PM GMT &#8211; (USD) Final GDP q\/q<\/li>\n<li>12:30 PM GMT &#8211; (USD) Unemployment Claims<\/li>\n<li>08:30 PM GMT &#8211; (USD) Bank Stress Test Results<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei down 1.22%, ASX down 2.48% Commodities : Gold at $1777.35 (+0.13%), Silver at $17.66 (-0.04%), Brent Oil at $40.01 (-0.74%), WTI Oil at $37.75 (-0.68%) Rates : US 10-year yield at 0.672, UK 10-year yield at 0.189, Germany 10-year yield at -0.452 News &amp; Data: (EUR) German GfK &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/thursday-25th-june-asian-markets-lose-as-imf-projects-deeper-contraction\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Thursday 25th June: Asian markets lose as IMF projects deeper contraction<\/span><\/a><\/p>\n","protected":false},"author":8,"featured_media":41393,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[339],"tags":[],"class_list":["post-41392","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\/41392","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=41392"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/41392\/revisions"}],"predecessor-version":[{"id":41394,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/41392\/revisions\/41394"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/41393"}],"wp:attachment":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=41392"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=41392"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=41392"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}