In Asian Equity Markets Japanese stocks reversed early gains on Wednesday as concerns over rising costs and a weaker yen outweighed gains made by technology heavyweights after a strong finish on Wall Street. The Nikkei share average fell 0.4 percent to 29,679.68, while the broader Topix lost 0.55 percent to 2,039.51. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.45 percent. The Shanghai Composite Index gained 0.2 percent to 3,529.26, while the CSI300 index fell 0.1 percent to 4,879.75 by the end of the morning session. The Hang Seng index lost 0.5 percent to 25,595.19.

In Currency Markets the dollar reached a four-and-a-half-year high against the yen on Wednesday after better-than-expected U.S. retail data, which also boosted Wall Street equities, although Asian shares failed to follow suit. The dollar reached a high of 114.97 yen in early Asian hours, its strongest since March 2017, while the euro languished at a 16-month low at $1.1320. One euro last bought $1.13245, mostly flat from Tuesday, when it dipped as low as $1.1309 for the first time since July 2020. Sterling was little changed at $1.34335 after rising as high as $1.3472 overnight.

In US Equity Markets stocks closed higher on Tuesday as earnings from Home Depot and retail sales data signaled solid consumer health and eased worries about a Federal Reserve that may have to become more aggressive in the face of rising inflation. The Dow rose 0.15 percent, to 36,142.22, the S&P 500 gained 0.39 percent, to 4,700.9 and the Nasdaq Composite added 0.76 percent, to 15,973.86. Retailer Home Depot Inc rose 5.73 percent after beating quarterly sales estimates by nearly $2 billion and handily topping the earnings per share view.

In Commodities Markets oil prices settled mixed on Tuesday, as prospects of tight inventories worldwide were offset by forecasts of a production increase in coming months and concerns over rising coronavirus cases in Europe. Brent crude rose 0.5 percent, to $82.43 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 0.2 percent, to $80.76 a barrel. Spot gold fell 0.6 percent to $1,851.80 per ounce. Silver fell 0.9 percent to $24.81 per ounce and platinum lost 2.2 percent to $1,063.50. Palladium was up 0.5 percent at $2,163.93, hitting its highest in a month.

In European Equity Markets stock indexes extended their record rally on Tuesday, boosted by shares of Dutch technology investor Prosus and French luxury group Kering and lifted by optimism over easing in U.S.-China tensions. The pan-European STOXX 600 closed 0.2 percent higher, while Germany’s DAX, France’s CAC 40, and euro zone shares all rose to new peaks. Prosus NV rose 4.2 percent after forecasting higher profit for the first half of 2022 as it raised $12.3 billion from selling part of its stake in Tencent in April.

In Bond Markets U.S. Treasury yields rose on Tuesday in choppy trading after data showed that U.S. retail sales increased more than expected in October and before the U.S. Treasury’s sale of 20-year bonds on Wednesday. Benchmark 10-year note yields gained a basis point on the day to 1.63 percent and were up from 1.61 percent before the retail sales data was released. Twenty-year bond yields were last at 2.06 percent while 30-year yields were at 2.02 percent. Breakeven rates on five-year Treasury Inflation-Protected Securities (TIPS) rose to 3.24 percent.

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