Global Markets:
- Asian Stock Markets : Nikkei up 0.51%, Shanghai Composite up 0.23%, Hang Seng down 0.63%, ASX down 0.29%
- Commodities : Gold at $2015.05 (+0.40%), Silver at $25.23 (+0.55%), Brent Oil at $84.55 (-0.25%), WTI Oil at $80.64 (-0.24%)
- Rates : US 10-year yield at 3.600, UK 10-year yield at 3.778, Germany 10-year yield at 2.495
News & Data:
- (GBP) Average Earnings Index 3m/y 5.90% vs 5.10% expected
- (GBP) Claimant Count Change 28.2K vs -2.5K expected
- (CNY) GDP q/y 4.50% vs 4.00% expected
- (USD) Empire State Manufacturing Index 10.8 vs -17.7 expected
Markets Update:
Asian markets ended mixed on Tuesday as investors awaited the release of China’s first quarter GDP data and digested the latest earnings reports from Wall Street. China’s economy is expected to have grown 4% year-on-year in the first quarter, according to a Reuters poll, after expanding 2.9% in the previous quarter.
The Shanghai Composite Index edged up 0.6% to close at 3,391.61, while the Shenzhen Component Index added 0.8% to end at 13,638.51. The Hang Seng Index in Hong Kong slipped 0.5% to finish at 20,696.45, weighed down by losses in technology and consumer stocks.
In Japan, the Nikkei 225 Index rose 1.2% to close at 28,858.83, boosted by gains in financials and industrials. The broader Topix Index advanced 1% to end at 1,929.34. The yen weakened slightly against the U.S. dollar, trading at 134.18 per dollar.
In South Korea, the Kospi Index fell 0.9% to close at 2,402.64, dragged down by declines in chipmakers and automakers. Samsung Electronics dropped 1.6%, SK Hynix lost 2%, Hyundai Motor shed 2.4%, and Kia Motors slid 3%.
In Australia, the S&P/ASX 200 Index closed 1.1% lower at 7,224.8, as mining and energy stocks retreated amid lower commodity prices. BHP Group fell 2%, Rio Tinto declined 1.8%, Woodside Petroleum lost 2%, and Santos dropped 2.7%.
Commodities also came under pressure as the U.S. dollar strengthened against a basket of major currencies. The dollar index rose 0.1% to 97.76, making it more expensive for foreign buyers to purchase dollar-denominated commodities.
Gold futures on the COMEX division of the New York Mercantile Exchange fell 0.4% to settle at $2,007 per ounce, while silver futures dropped 1.5% to close at $25.088 per ounce. Platinum futures rose 0.5% to settle at $1,059.60 per ounce.
Crude oil futures on the New York Mercantile Exchange settled lower as concerns over rising global supply and demand uncertainty weighed on sentiment. WTI crude for May delivery fell 0.2% to settle at $80.65 per barrel, while Brent crude for June delivery slipped 0.3% to settle at $83.42 per barrel.
Upcoming Events:
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- 12:30 PM GMT – (CAD) CPI m/m
- 12:30 PM GMT – (CAD) Median CPI y/y
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