Hong Kong shares moved higher on Monday despite weak economic data release and fading hopes for easing measures in the country. China's new yuan loans issued in October declined by 14% on an annual basis, indicating that downside risks still persist. The Hang Seng Index added 0.21% to close at 21,430.30. Six out of nine sectors gained. The top-performers were
Japanese equities started the week in a red territory on weak data from the national economy. Japan's GDP contracted by 0.9% in Q3, indicating the first decline in three quarters. Moreover, trade between Japan and China dropped by annualized 2.1% in the first 11 months of the year. Solid Yen as well as worries over the US fiscal cliff also
Dow climbed on Friday amid positive signals from domestic economy. US preliminary consumer confidence jumped more than expected this month. Mounting hopes for continuation of stimulus measures also pushed the US blue chips index higher. However, the upswing remained capped by concerns over the US fiscal cliff and Greek budget vote. Meanwhile, investors were also cautious ahead of the Chinese
US stocks rebounded on Friday amid upbeat US data. US preliminary consumer sentiment surpassed forecasts this month, attaining five-year high. At the same time, fading hopes that a leadership change in China will result in more stimulus measures weighted down on US equities. Moreover, worries over looming US fiscal battles and Greek budget vote weighted down on the US shares.
The Ministry of Statistics & Program Implementation reported on Monday that Indian consumer price inflation advanced last month. India's CPI was equal to 9.75% in October, having the year 2010 as a base. A preceding month's reading was slightly lower at the level of 9.73%. Inflation in rural area was higher than in urban, with the levels of 9.98% and
The Federal Statistical Office reported on Monday that wholesale price inflation increased its pace to the fastest in 11 months in October. The wholesale price index grew to an annualized 4.6% last month compared to a figure of 4.2% in the preceding month. Analysts, however, expected that prices would gain even more and the index would reach 4.9%.
Gold futures edged higher on Monday, November 12, reaching three-week high, amid growing uncertainty over Greek's bailout plan and U.S. fiscal woes. Gold for December settlement added 0.19% to $1,734.20 an ounce, after jumping 3.3% during the previous week. Other precious metals were mixed, as December silver rose 0.05% and January platinum soared 0.53%. On the contrary, copper and palladium with December contract eased up 0.02%
The world's leading credit rating agency Moody's said on Monday, that Australia's triple A credit rating is able to survive a contraction of country's mining industries and lower commodity prices, which will definitely hurt Australia's government budget. Iron and coal make around thirty per cent of Australia's exports, which is tightly related with China, which is also experiencing uncertainty about
Dutch trade surplus was €0.4 billion lower from the last year to €3.6 billion in September, the Netherlands Bureau of Statistics announced on Monday. Export of goods slipped by 1% to €35.1 billion in one month on the annual basis, but the shipment volume increased by 2% comparing with a previous year. Imports rose by 1% to €31.5 billion with
Crude oil futures for December settlement were 14 cents lower to $85.93 a barrel during Asia trading hours on Monday. The price consolidates after the last two days gains, as the recent data showed that China's export growth and oil purchases reached the highest level in the last five months. However, markets are also concerned about the Japan's economy, as
The Stoxx 600 Index dropped 0.2% to 269.73 points in early London trading session on Monday. Equity market were slightly changed after the Greece parliament approved the country's next year budget, but ,however, euro-area ministers have a meeting this evening in Brussels, where the agreement on the fresh 31.5 billion euros loans to Greece will be the main issue.
The yen lost against the majority of its trading peers, as GDP data showed Japan's economy shrank in the third quarter. The currency was gaining versus euro the last three days after the BOJ showed its position of remaining distant from Japan's target of 1% inflation. The yen eased 0.2% to 101.26 per euro, surging from Friday's 101.05. The Japanese currency stayed little changed at 79.51
Farm commodities apart from sugar dropped on Friday amid broadly stronger US Dollar and upward revisions of the global crop estimates. Meanwhile, global economic uncertainty continued to weight on demand prospects.Wheat was the top-loser after the USDA raised its forecast on the US ending stocks to 1774.18 million tonnes, above market consensus. However, an expected drop in Ukraine exports limited
Japan's economy shrank in the three months through September as anti-Japan protests in china and world economic slowdown hurt nation's export, whereas domestic consumption was subdued. GDP shrank an annualized 3.5% in the third quarter, putting pressure on the government to add stimulus measures to prop up economic growth.
Energy futures except for natural gas extended gains on Friday amid positive US data releases. US preliminary consumer confidence reading beat forecasts, reaching five-year high. Moreover, slightly better-than-expected Chinese industrial production data lifted the commodity group. Crude oil rallied as positive US consumer confidence data fuelled hopes for stronger energy demand. However, broadly stronger US Dollar as well as persistent
Asian stocks declined, with the regional benchmark index set for the lowest close in a month, after Japan's economy contracted. The MSCI Asia Pacific Index fell 0.2% to 121.06. Japan's Nikkei 225 Stock Average declined 0.7%, as data showed GDP contracted an annualized 3.5% in Q3. Australia's S&P/ASX 200 Index slipped 0.1%, South Korea's Kospi Index slid 0.3% and Taiwan's
Industrial metals fell on Friday as weak industrial production figures from France and Italy coupled with mounting concerns over the US fiscal cliff created heavy pressure on the commodity group. Meanwhile, investors were cautious ahead of the Greek budget vote due on November 10.Aluminum shed 0.21% on global economic fears and elevated inventories at Shanghai and LME-monitored warehouses.Copper plummeted as
The Australian Dollar gained, trimming a 3-day loss, on speculation the interest rates will not decline if a wage report is positive this week. The Aussie strengthened 0.3% from the previous week to $1.0418 and advanced 0.3% to 82.82 yen. Australia's currency touched $1.0480 on November 7, the strongest level since September 21. The kiwi rose 0.3% to 81.60 U.S.
Precious metals were mixed on Friday amid broadly stronger US Dollar and hopes for further easing measures in the US as Barack Obama was re-elected for the second term. Meanwhile, fears over the US fiscal cliff as well as uncertainty over Greece created strong pressure on the commodity group.Gold inched down as solid greenback outweighed speculation that the US will
The Yuan advanced the most since October as report showed the fastest export growth in five months and the central bank raised the reference rate. China's currency rose to the highest level in 19 years, touching the upper limit of the permitted trading band around the central bank's daily fixing. The Yuan gained 0.26% to 6.2291 per U.S. Dollar, the
The Euro traded 0.3% from the lowest level in two months ahead of European finance chiefs' meeting today to discuss a programme to keep Greek solvency. The common currency traded at $1.2731 from $1.2714 on November 9, when the Euro touched $1.2690, the weakest level since September 7. The Euro fetched 101.17 yen from 101.05.
Asian currencies gained throughout this week, as Obama's victory in the presidential election improved the likelihood of increasing the supply for the U.S. Dollar. Chinese yuan has been advancing for 14 consecutive weeks on expectations for government to introduce more monetary stimulus to boost up the inflation. The Taiwan Dollar gained 0.5% this week to NT$29.150 versus dollar, while South Korean won, Thailand's baht and
According to data published by Hellenic Statistical Authority, Greece industrial output dropped in September, retreating from its gain in August. The industrial production index showed the biggest decrease since March and lost 7.3% year-on-year, after a 2.7% rally in August. Manufacturing production slid 6.9%, whereas mining production fell 1%. Meanwhile, utilities supply, such as, electricity and water, were the top losers by tumbling 11.9% and 1.4%.
German shares plunged in risk-off Friday's session. Market players remained cautious amid growing uncertainty over fiscal cliff in the US and worries over whether Greece will receive financial aid. On Friday, German Finance Minister Wolfgang Schaeuble stated that may be too early to grant the next tranche of the bailout to Greece. The DAX Index dropped 1.55% and is currently