In Asian Equity Markets indices traded mixed on Wednesday morning. Mainland Chinese shares were lower in early trade, with the Shanghai composite falling 0.12%. Hong Kong’s Hang Seng index, on the other hand, rose 0.26%. In Japan, the Nikkei 225 rose 0.49% in morning trade while the Topix index gained 0.88%. Japanese component supplier Murata Manufacturing rose 1.5% and Sharp jumped 4.98%, while South Korea’s LG Display traded 1.75% higher. South Korea’s Kospi also added 0.49%. Over in Australia the S&P/ASX 200 advanced 0.23%.
In Currency Markets the U.S. dollar was steady against the euro on Tuesday, holding in its recent tight range, before the European Central Bank on Thursday is expected to cut interest rates deeper into negative territory and possibly restart asset purchases. Many also favor restarting asset buys, but opposition from some northern European countries is complicating this issue. The dollar was little changed against the single currency at $1.1045. It has traded in a tight range between $1.1014 and $1.1084 for four days.
In Commodities Markets oil prices rose on Wednesday after an industry report showed that crude stockpiles in the U.S. fell last week by more than twice the amount that analysts had forecast. Brent crude futures rose 43 cents, or 0.7%, to $62.81 a barrel, while WTI futures were up 47 cents, or 0.8%, to $57.87 a barrel. Prices had ended lower on Tuesday, squeezed by speculation of a return of sanctions-hit Iranian crude exports to the market following United States President Donald Trump’s move to fire national security adviser John Bolton, a noted Iran policy hawk.
In US Equity Markets the S&P 500 ended little changed on Tuesday, with a rally in energy and industrial shares countering a drop in the technology and real estate sectors as investors favored value over growth. Apple Inc edged up 1.2% after announcing the Nov. 1 launch date for its streaming service Apple TV+, and unveiled its latest iPhone and Watch updates. Wendy’s Co fell 10.2 after the fast food chain projected a drop in full-year 2019 adjusted earnings. Wendy’s rival McDonald’s Inc announced it would buy Silicon Valley start-up Apprente. Its stock fell 3.5%.
In Bond Markets U.S. Treasury yields climbed to four-week peaks on Tuesday, tracking German bonds, as risk appetite continued to improve with diminishing U.S.-China trade tensions and expectations of fiscal stimulus measures from Germany, Europe’s largest economy. U.S. benchmark 10-year note yields rose to 1.698% from 1.622% late on Monday. Early in the session, 10-year yields hit a four-week high of 1.702%.