Hong Kong equities jumped on Wednesday on hopes the Fed continues its easing measures. However, the appetite for riskier assets deteriorated after Citigroup warned growth in 2013 may be slower than expected as government may refrain from policy easing amid heavy inflationary pressure. Despite less optimistic China's growth outlook, Hang Seng Index jumped 0.71% to close at the highest mark
Japanese shares soared on Wednesday, tracking gains of US stock market. Market sentiment was further supported by hopes the Fed will continue its easing measures. Boosting exporters, the Yen depreciated against its US counterpart, attaining a 31-month low. The Nikkei 225 Index surged 2.28% to finish above 11,000 for the first time since April 2010. All but one sector rallied.
Farm commodities were mixed on Tuesday amid broadly weaker US Dollar and improved appetite for riskier assets. Unfavorable weather conditions in Argentina as well as concerns over spreading coffee leaf rust in Central America were supportive for rural commodities. At the same time, weak US export data pushed the commodity complex lower. Wheat slumped after the USDA report showed US wheat
Energy futures except for natural gas finished Tuesday's session in the green territory on hopes the Fed will decide to stick to its easy policy at its meeting on Wednesday. However, eased supply concerns pressurized the commodity group. Prince Abdulaziz bin Salman said Saudi Arabia would be able to maintain the current level of oil output for at least
Industrial metals climbed on Tuesday ahead of key economic data releases due on Friday. Weaker US Dollar also provided support. However, a larger-than-expected decline in the US CB consumer confidence as well as increased caution ahead of Fed monetary policy statement capped gains of base metals. Aluminum jumped on speculation that production cuts of Rio Tinto and BHP Billiton will result
Precious metals advanced on Tuesday on hopes the Fed will leave its loose monetary policy unchanged at its meeting on Wednesday. Moreover, weak consumer confidence data sent the US Dollar lower, boosting appeal of the commodity complex to other currency holders. Gold climbed on soft greenback and signs of strong physical demand from central banks. Gold holdings of Russia and
New Zealand's currency declined versus all the major peers before the monetary policy meeting of the nation's central bank tomorrow. The New Zealand Dollar weakened as much as 0.4% to 83.59 U.S. cents at 4:39 p.m. Sydney time after strengthening 0.7% yesterday. The Aussie fell 0.1% to $1.0468 after a 0.6% advance.
Asian shares rose, with the regional benchmark index set for the highest close since August 2011, as Japan's stocks increased on earnings and on speculation the Fed will maintain monetary stimulus. The MSCI Asia Pacific Index advanced 0.7% to 133.47 at 3:31 p.m. in Tokyo. Japan's Nikkei 225 Stock Average gained 2.3% and closed above 11,000, the first time since
Canada's Dollar rose the most versus the U.S. peer in almost a month following a 4-day losing streak. The loonie, advanced as much as 0.5% to C$1.0009 per greenback at 5 p.m. Toronto time, the largest gain since January 2. It touched the lowest level in almost six months and last traded lower than C$1.01 on July 27. One Canadian
South Korea's currency declined, trimming early gains, as foreign investors increased sales on the country's equities. Government bonds fell on a brightening outlook for economic growth. The Won fell 0.1% to 1,083.63 versus the U.S. Dollar at 10:30 a.m. in Seoul. The currency rose the most since September 14 yesterday after losing 1.7% on January 28.
Malaysia's Ringgit gained the most in 3 weeks as demand for emerging-market assets increased on speculation that the Fed will keep monetary stimulus. The Ringgit strengthened as much as 0.3% to 3.0751 per U.S. Dollar at 9:34 in Kuala Lumpur, snapping January's loss to 0.5%. One-month implied volatility increased 8 basis points, or 0.08 percentage point, to 6.31%.
Japan's currency weakened against most of the major peers as Asian shares rose for a second straight day, encouraging investors to buy riskier assets on expectations Japan will extend its monetary stimulus. The Yen dropped as much as 0.2% to 90.92 per U.S. Dollar and fell 0.2% to 122.62 per Euro. The Japanese Yen is set for a 4.6% decline
The U.S. 10-year bonds' yield was higher by one basis point, or 0.01 percentage point, to 1.97% in early London trading session on Tuesday. Benchmark of 10-year yields were in the highest level since April, 2012, ahead the U.S. $35 billion five-year securities auction and the second three notes sale of total $99 billion this week. Also, today starts the
The Japanese Yen was slightly higher by 0.2% to 90.71 versus the U.S. Dollar in Asian trading session on Tuesday. The Yen was very close to recent high at 91.26 and the greenback was in the strongest level since June, 2010. As Japanese stocks increase, upbeat sentiments for risky assets can weight the Yen on, specially against the higher yield
The BSE India Sensitive Index, also called Sensex, was lower by 0.4% to 20,031.24 points by midday trading session in Mumbai on Tuesday. Indian equities declined, erasing earlier gains, as the reduction of the key interest rate matched market expectations. Indian stock market volumes were higher by 16% than 30-day average. As the index moves to multi-year high, market will
Spot price of gold was higher by 0.5% to $1,664.33 an ounce in Singapore trading session on Tuesday. Recent increase ended four-day streak of losses, the longest losing period since October. Commodity investors wait for the U.S. Federal Reserve's meeting, when a stimulus to bolster the world's biggest economy will be discussed. The outlook on the monetary policy will be
The consumer confidence index gained by 3% to 75.8 points in January, after a 73.6 points in December, increasing for the third consecutive month, as the Turkish Statistical Institute announced on Tuesday. A number below 100 signals a negative outlook. However, the index increased mainly due to improvements in general economic conditions, consumers financial situation and ability to save
The Sterling was little changed versus the U.S. Dollar and was traded at $1.5709 after slipping to $1.5675 yesterday, the lowest level since August 17. Investors wait for a tomorrow's report on U.K. mortgage approvals. Economists say that approvals increased for the sixth consecutive month in December. The Pound is already weaker by 3.4% this year and Bank of England
The Euro Stoxx 50 Index was higher by 0.1% to 2,749 points in early London trading session on Tuesday. The region futures benchmark was little changed as companies announced earnings and a report indicating a bounce in German consumers confidence index. German consumer sentiments will be higher to 5.8 in January due to stable labor market and higher income expectations,
The Reserve Bank of India cut the repo rate by 25 basis points to 7.75%, the first time in nine months. The central bank expects that the key interest rate cut will support economic growth, encourage investments and settle medium period inflation expectations. However, the bank representatives said that they see limited scope of further aggressive reduction regarding the higher
S&P/ASX 200 Index was higher by 1.11% at 4.889.0 points in the end of Sydney trading session on Tuesday. Pacific region market shares climbed, as investors went back from a three days long weekend. The index showed positive performance in last eight session, as on Friday it closed in the highest level since April, 2011. The best performers in the
Wheat futures for March settlement were lower by 0.4% to $7.765 for one bushel on Chicago Board of Trade in Singapore trading session on Tuesday. Wheat futures were higher by 19% last year, but are lower by 0.2% this year. Today, wheat is traded negatively for the first time in last three trading sessions, on speculation that the U.S. Great
Rural commodities soared on Monday amid global supply concerns. Unfavorable weather in South America coupled with signs of strengthening demand for US wheat sent grains higher. Meanwhile, softs gained on coffee leaf rust concerns and a potential rally of sugar prices in case of any supply disruption. Wheat continued to draw strength from a recent USDA report showing larger-than-expected increase in
Energy futures apart from natural gas witnessed mild gains on encouraging US durable goods orders data and escalated geopolitical tensions in Africa. Capping gains of the commodity complex, US Dollar climbed against its major peers ahead of the Fed monetary statement due on Wednesday. Crude oil hovered near a four-month high after positive US data. Meanwhile, market players were cautious as