The Asia Day: The prospect for Chinese stimulus excites everywhere but China

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With the exception of China’s Shanghai Composite it’s been a good end to the week for Asian markets.

Here’s the scoreboard.

Asian Equities:

  • Nikkei 225 19,732.92 (+0.83%)
  • Shanghai Composite 4,319.47 (-1.34%)
  • Hang Seng 27,752.00 (+1.71%)
  • S&P/ASX 200 5,735.50 (+0.68%)

Global Equity Futures:

  • S&P 500 2,122.15 (+0.22%)
  • DAX 11,646.50 (+0.61%)
  • FTSE 100 6,985.50 (+0.35%)

The Nikkei in Japan closed up 0.8% while the ASX 200 put on an additional 0.7%. Late in trade the Hang Seng is up close to 2% following rumours of an announcement on the full implementation of a Hong Kong-Shenzhen stock connect.

Despite Chinese Premier Li Keqiang suggesting that “more forceful” measures are required to boost flagging domestic growth, the Shanghai Composite is trading down over 1%.

In currency markets the US Dollar, after sliding yesterday, is finding a renewed bid. Unsurprisingly those pairs that outperformed yesterday misfired today.

On commodity markets gold was off 0.5% while Brent crude futures are trading dead flat.

Perhaps explaining the renewed optimism in equities, government bond yields are lower.

Looking ahead data releases today include industrial production, University of Michigan consumer confidence and the Empire State manufacturing index from the US, as well as Hong Kong GDP along with Indian international trade.

Forex:

  • EUR/USD 1.1385 (-0.21%)
  • EUR/GBP 0.722 (-0.16%)
  • EUR/CHF 1.0408 (-0.02%)
  • EUR/JPY 136.1 (+0.11%)
  • USD/JPY 119.55 (+0.32%)
  • USD/CHF 0.9141 (+0.2%)
  • GBP/USD 1.5768 (-0.05%)
  • AUD/USD 0.8054 (-0.35%)

Commodity Futures:

  • Gold Futures $1,218.50 (-0.55%)
  • Brent Oil Futures $66.72 (0%)

10-Year Government Bond Futures:

  • Japan 0.404% (-0.048)
  • U.S. 2.209% (-0.03)
  • Germany 0.678% (-0.022)
  • UK 1.983% (-0.003)
  • Australia 2.923% (-0.012)

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