something interesting

<  BACK TO Market Analysis

Asia-Pacific Markets Update

Asia-Pacific-markets-dip-lower_FXPIG

Global equity markets were lower in Asia on Tuesday, as a pullback in commodity shares dragged Australia’s benchmark index lower, while tighter liquidity weighed on Chinese stocks.

Commodity stocks have been key to the recent rebound for Australia’s underperforming equities market, helping the S&P/ASX 200 XJO, -0.93% hit 10-year highs earlier this month, but profit-taking pressure has been building.

The stock index was down by as much as 1.1%, with the energy sector retreating around 2.5%, even though oil prices barely budged overnight. The sector had jumped nearly 15% in barely a month. The stock benchmark was last trading down 0.9%.

Utilities stocks in Australia were also weaker, down 1.6% after recently hitting their best levels since midyear, while heavyweight miners BHP Billiton BHP, -1.31% and Rio Tinto RIO, -0.88%   were also lower after recently hitting multiyear highs.

“The Australian market has had an uncommon run now. In these circumstances it is reasonable to expect some profit-taking,” said Ric Spooner, chief market analyst at CMC Markets.

Tuesday’s pullback came after another member of Australia’s parliament resigned over dual-citizenship status. The crisis tipped the conservative government toward the minority in the lower house of parliament last week, after two lawmakers were disqualified and forced to re-contest their seats.

Meanwhile, Chinese shares were also under pressure, with the Shanghai stock benchmark SHCOMP, -0.45% down 0.3%, after logging a six-session winning streak and closing at a fresh 22-month high on Monday.

Data late Monday showed that growth in M2, the broadest measure of money supply in China, was lower-than-expected at 8.8% in October, the weakest increase on record. In Shenzhen 399106, -0.62% , the stock benchmark was off 0.4%, while Hong Kong’s Hang Seng Index HSI, +0.05%  was roughly flat.

“Stocks there have a direct correlation with liquidity,” said Alexander Lee, chief investment officer at Nimbus Capital Group. He expects declines in stocks to be temporary, though, as the squeeze on liquidity could help reduce overcapacity, ultimately helping boost earnings.

Data released Tuesday also showed slower industrial output and fixed-asset investment growth in China in October.

“At the end of the day, China still intends to strike a balance between growth, debt and leveraging,” said Commerzbank economist Zhou Hao.

In South Korea, the Kospi SEU, -0.27%   was down 0.3%, led by declines in tourism-related shares such as Korean Air Lines 003490, -1.14% and Asiana Airlines 020560, -1.82%  . The stocks are sensitive to rising tensions with North Korea. On Monday, a North Korean soldier defected to the South by crossing the Demilitarized Zone. He was injured after being shot by fellow North Korean soldiers.

Bucking the region’s declines, Japan’s Nikkei Stock Average NIK, +0.31%   was up 0.3% in the morning session, lifted by gains in the U.S. dollar against the yen, which supported export-related stocks.

The dollar JPYUSD, -0.014959% was last at ¥113.62, up from ¥113.47 before the local stock market closed Monday. The rebound came after the benchmark index fell 1.3% to end lower for the fourth consecutive session on Monday, its largest four-day point decline since Nov. 9 last year.

Source: marketwatch.com

Global equity markets were lower in Asia on Tuesday, as a pullback in commodity shares dragged Australia’s benchmark index lower, while tighter liquidity weighed on Chinese stocks.

Commodity stocks have been key to the recent rebound for Australia’s underperforming equities market, helping the S&P/ASX 200 XJO, -0.93% hit 10-year highs earlier this month, but profit-taking pressure has been building.

The stock index was down by as much as 1.1%, with the energy sector retreating around 2.5%, even though oil prices barely budged overnight. The sector had jumped nearly 15% in barely a month. The stock benchmark was last trading down 0.9%.

Utilities stocks in Australia were also weaker, down 1.6% after recently hitting their best levels since midyear, while heavyweight miners BHP Billiton BHP, -1.31% and Rio Tinto RIO, -0.88%   were also lower after recently hitting multiyear highs.

“The Australian market has had an uncommon run now. In these circumstances it is reasonable to expect some profit-taking,” said Ric Spooner, chief market analyst at CMC Markets.

Tuesday’s pullback came after another member of Australia’s parliament resigned over dual-citizenship status. The crisis tipped the conservative government toward the minority in the lower house of parliament last week, after two lawmakers were disqualified and forced to re-contest their seats.

Meanwhile, Chinese shares were also under pressure, with the Shanghai stock benchmark SHCOMP, -0.45% down 0.3%, after logging a six-session winning streak and closing at a fresh 22-month high on Monday.

Data late Monday showed that growth in M2, the broadest measure of money supply in China, was lower-than-expected at 8.8% in October, the weakest increase on record. In Shenzhen 399106, -0.62% , the stock benchmark was off 0.4%, while Hong Kong’s Hang Seng Index HSI, +0.05%  was roughly flat.

“Stocks there have a direct correlation with liquidity,” said Alexander Lee, chief investment officer at Nimbus Capital Group. He expects declines in stocks to be temporary, though, as the squeeze on liquidity could help reduce overcapacity, ultimately helping boost earnings.

Data released Tuesday also showed slower industrial output and fixed-asset investment growth in China in October.

“At the end of the day, China still intends to strike a balance between growth, debt and leveraging,” said Commerzbank economist Zhou Hao.

In South Korea, the Kospi SEU, -0.27%   was down 0.3%, led by declines in tourism-related shares such as Korean Air Lines 003490, -1.14% and Asiana Airlines 020560, -1.82%  . The stocks are sensitive to rising tensions with North Korea. On Monday, a North Korean soldier defected to the South by crossing the Demilitarized Zone. He was injured after being shot by fellow North Korean soldiers.

Bucking the region’s declines, Japan’s Nikkei Stock Average NIK, +0.31%   was up 0.3% in the morning session, lifted by gains in the U.S. dollar against the yen, which supported export-related stocks.

The dollar JPYUSD, -0.014959% was last at ¥113.62, up from ¥113.47 before the local stock market closed Monday. The rebound came after the benchmark index fell 1.3% to end lower for the fourth consecutive session on Monday, its largest four-day point decline since Nov. 9 last year.

Source: marketwatch.com

lastest Articles

Market Analysis
GBP/USD once again finds support near 1.2100 mark, turns neutral post-UK services PMI
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Technical Analysis: The outlook remains bearish while below the 55-day SMA near 1.1230
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: China strikes back with yuan devaluation, yen surges, commodity currencies crash
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week ahead – Focus shifts east
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Fed-fueled dollar dominates, GBP/USD fears BOE's Super Thursday, and more NFP hints eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/JPY sits near 2-month tops, comfortably above 109.00 handle
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
BoE and global PMIs amongst market movers today
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/JPY: a test of 109.00 stays on the table
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Fed: Market currently fully pricing a 25bps cut – Deutsche Bank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Tech Targets: GBP/USD, AUD/USD, NZD/USD -31.07.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold holds steady near $1425 area, focus remains on FOMC/US-China trade talks
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
BoJ: No fireworks offered
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Tech Targets: EUR/USD, GBP/USD, USD/JPY - 30.07.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/GBP climbs to 2-week highs around 0.9020
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
BoJ to move towards strengthening its forward guidance
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Tech Targets: GBP/USD, AUD/USD, NZD/USD -29.07.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Technical Analysis: Looks neutral near term. A drop below 1.1100 cannot be ruled out
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
UK: Tough electoral rhetoric on Brexit - Rabobank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Fed: Scope for disappointment
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Technical Analysis: Holding on above 1.1100 ahead of the ECB event
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold steadily climbs to session tops, back closer to $1430 area
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB and German IFO amongst market movers today
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold steadily climbs to session tops, around $1425 level
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP: Strength to be faded as we get closer to general election - ING
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD drops to 2-month lows near 1.1120 on poor PMIs
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
US Dollar Index Technical Analysis: Extra gains could now test 97.60 ahead of 97.80
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 23.07.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Oil: Talk of 'Hidden' Iranian barrels, demand worries preventing jump higher - TDS
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD refreshes session lows, back below 1.2500 handle
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 22.07.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Forecast: Upside remains capped by the 21-day SMA around 1.1280
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Dollar mixed and Stocks Fall as markets brace for more global easing
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP: Guided by the UK politics
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/JPY: Back under pressure
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 18.07.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold technical analysis: Bears challenge a key pivotal support near $1400 mark
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 17.07.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/JPY recovers from lows, back around 121.40
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Canada: Housing data in focus
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 15.07.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR: ECB-related uncertainty lingers
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/CAD Canadian Dollar Higher as Dollar Faced Fed Cut Pressure
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD: Less of a safe haven now - ING
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 12.07.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
BOE’s Vlieghe: BOE may need to raise rates if inflation expectations are deanchored by a no-deal Brexit
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold technical analysis: Set-up remains in favour of bullish traders, dip-buying to help the downside
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD - 11.07.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Bank Of England Sees Significant Market Volatility In Disorderly Brexit
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold steadily climbs to session tops, farther beyond $1400 handle
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 08.07.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: USD looking strong, Turkish lira plunges, new trade tensions arise
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
King Dollar’s reign could end on Powell’s testimony and trade war progress
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD at the crossroads - ING
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Oil: Prices likely to rebound this year – Danske Bank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
US: Payrolls likely to increase 150k in June - TDS
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
RBA: More rate cuts to come? - Westpac
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB’s Lane: No comments on monetary policy
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold slips back closer to overnight swing low, below $1415 level
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Technical Analysis: Further downside should test the 100-day SMA at 1.1259
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
RBA delivers consecutive cuts - TDS
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Tech Targets: EUR/USD, GBP/USD, NZD/USD, USD/JPY - 02.07.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/CAD Canadian Dollar Rises on Rate Divergence With Fed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
G20 meeting: Trump and Xi meeting in focus - Westpac
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/JPY: Market stays immediately offered
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/CAD struggles below 1.3100 handle, fresh multi-month lows
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold climbs to weekly tops, around $1338 level
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 13.06.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
UK PM Candidate Javid: My absolute priority is to deliver a Brexit deal
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
US: Damage already done from the Mexico tariff threat? – ABN AMRO
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY -12.06.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Preview: Draghi’s speech at ECB conference on CESEE in Frankfurt
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
OPEC+ and global supply risks to put a floor in crude markets - TDS
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold slips to 1-week low, below $1325 level amid fading safe-haven demand
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
FOREX Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY -11.06.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Obsessed
This Time It's Different
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EU Commissioner Moscovici: EU still has risks to monitor, including Brexit and Italy’s finances
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold drops to multi-day lows, around $1325 level
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 10.06.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/CAD Canadian Dollar Higher After US and Canadian Jobs Report
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB's Vasiliauskas: Inflation outlook is 'not bad'
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
BOJ: Expect further easing in September – JP Morgan
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD flirting with daily lows near 1.1260
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB and Eurozone GDP amongst market movers today – Danske Bank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD: Downtrend eroded? - Commerzbank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
FOMC: July meeting priced in for 21bps of cuts – Deutsche Bank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD firmer, approaches 1.1300 ahead of US ADP
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB: Tweak in policy rate forward guidance?
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD: Further selling? – Danske Bank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold jumps to over 3-month tops, around $1330 area
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/GBP could move towards 0.9 – Danske Bank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Market Death by Tariffs; Safe-Havens Reign Supreme
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD holds steady near 1.1135 amid falling German yields
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 31.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold technical analysis: Bulls challenge 100-hour SMA/38.2% Fibo. confluence resistance
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
BoE's Ramsden: Little more pessimistic about the GDP growth that the latest BoE forecasts
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 30.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/JPY climbs to 1-week tops, 110.00 mark back on sight
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Technical Analysis: Rising bets for another test of 2019 lows near 1.1100
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 29.05.2019
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613