Breaking News

Disappointing inflation data drag Asian equities down.

News Date: 14/10/2015 01:36:02
 

 Asian stocks extended their fall on Wednesday as new Chinese data stoked worries about growth in the second biggest economy in the world. Consumer Price Index (CPI) for September rose 1.6% from a year earlier, less than the 1.8% investors expected, and less than August's 2.0% rise. Another piece of bad news from China, the Producer Price Index (PPI) fell 5.9% from a year earlier, same decline as August's, which is the biggest fall since the global financial crisis.

 

In other unwelcome news, Japan's wholesale prices fell 3.9% in September, compared with a 3.6% decline in August.   

 

Japan's Nikkei index fell a heavy 1.83% to 17,900. Australia's S&P\ASX 200 index fell 0.10%. China's Shanghai Composite index was, however, flat at 3,295.

 

Western stocks ended Tuesday on a low note, with a drop in oil and nervousness about third quarter earnings in U.S. shadowing the market. Dow Jones ended 0.29% lower. S&P ended 0.68% lower.

 

Crude oil fell a median 1% yesterday. The International Energy Agency forecast that a global supply glut will persist through 2016, as OPEC keep pumping record amounts of oil and demand wanes. Iran's entry in the market is set to rattle traders further.

 

Brent crude was a few cents up on Wednesday, trading at $49.43 a barrel. U.S. oil was slightly up at $46.79 a barrel.

 

Dollar was down against Euro on Wednesday, extending its fall to 1.1395. It gave up some of its Tuesday's profits against Sterling, to trade at 1.5277. It fell for the third session against Yen to 119.56.   

 

Gold kept pushing ahead, with a 0.70% rise today to $1,173 an ounce. Silver went up as well by 0.77%, fetching $16.02 an ounce.

 

Investors will be waiting for an array of important economic reports today, most notably the French CPI for September, forecast to have fallen 0.4% m\m compared with August's 0.3% rise. From Britain, unemployment rate data for August is coming out, forecast to have stayed unchanged at 5.5%.

 

Also from UK, the all important Average Earning Index is released today, measuring the change in wages, important for inflation and economic health. It's forecast to have grown 3.1%. Also from UK, Claimant Count Change, measuring the change of unemployment claims numbers. It's forecast to have fallen 2.2K in September, compared with August's 1.2K rise.

 

From U.S., Producer Price Index data is coming out, forecast to have fallen 0.2% m\m in September. Retail Sales data is also released today, forecast to have risen 0.2% m\m.

 

From Australia, unemployment data are coming out as well, forecast to have stayed the same at 6.2%.        

Latest news

The number of global Coronavirus infections is increasing at an unexpected speed, and German Chancellor Angela Merkel said yesterday that the pace of new infections is advancing day after day, and at
11-2020 17 08:37:57

Japanese stock indices closed lower today, due to undermining investor sentiment for fear of a rise in Corona cases, and the Nikkei index fell by 0.53% to 25385.87 points, and over the course of a we
11-2020 13 05:10:43

The US dollar manage this morning, to achieve progress during the trading session, as the « safe currency » rose by 0.04% to indicate 93.073, and the dollar fell against the Japanese yen
11-2020 12 08:11:42

Trump is still trying to raise the curtain on the corruption – as he claims – which was defined by the polling process in the last major US election that was sorted by Democrat Joe Biden,
11-2020 11 08:58:20

Most of the global markets rebounded on Monday, right after the opening of the weekly trading session, after Democrat Joe Biden won the US presidential elections, and both stocks and commodities rebo
11-2020 10 09:23:45

More News

Logs

Advertisements