Asian Stock Market: Trade/geopolitical fears trim gains of ASX 200, Nikkei 225


  • Asian shares trade mixed as noise surrounding China confronts upbeat comments/data from Australia and Japan.
  • Indian equities ignore Beijing’s warning, Indonesia’s IDX shrugs off Moody’s comments.
  • Global markets await return of the US/Canadian traders, Brexit, German trade number and EU GDP will also be in focus.

Shares in Asia dwindle amid mixed catalysts while heading into Tuesday’s European session. While portraying the same, the MSCI index of Asia-Pacific equities outside Japan drops 0.10% but Japan’s Nikkei 225 adds around 0.50% by the press time. A search for the factors behind the recent moves can lead us towards geopolitical tension between the US and China, as well as New Delhi and Beijing, coupled with welcome prints of Japan’s GDP and optimism shared by the BOJ policymaker.

Also on the positive side could be the National Australia Bank’s (NAB) Business Confidence and Business Conditions, not to forget the weekly employment. The same help ASX 200 to gain over 0.50% despite calls of a rate cut from the Reserve Bank of Australia (RBA).

New Zealand’s NZX 50 follows the suit amid a lack of major data but Chinese indices are down over 1.0% as the US signals ban of cotton important from Xinjiang province. Earlier during the day, China retaliated against the American move to change visa laws for overseas reporters.

Elsewhere, Hong Kong’s Hang Seng drops 0.25% whereas Indonesia’s IDX Composite trim the early-day gains while staying 0.15% up from the previous day’s close as Indonesian Consumer Confidence improves but Moody’s warn of the Retail Sales growth. India’s BSE Sensex adds 0.57% to 38,628 as we write, shrugging off China’s warnings near the border pay at the Line of Actual Control (LAC).

It should additionally be noted that the S&P 500 Futures gain around 0.40% but the US 10-year Treasury yields drop 1.5 basis points (bps) to 0.708% by the press time.

Moving on, a light calendar may keep disappointing the momentum watchers. However, the return of the US and Canadian traders, coupled with the eighth round of Brexit talks, can offer intermediate moves.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD edges above 1.18 amid mixed US data, slim stimulus hopes

EUR/USD is trading above 1.30 after US Durable Goods Orders beat expectations but Consumer Confidence missed estimates. Hopes for a US stimulus deal are slim with a week left until the elections.

EUR/USD News

GBP/USD stabilizes above 1.30 amid Brexit and covid uncertainty

GBP/USD is hovering above the round 1.30 levels as rising UK COVID-19 cases, uncertainty about Brexit, and PM Johnson's political problems weigh on sterling. US data has been mixed.

GBP/USD News

XAU/USD ticks up to $1,910 and turns positive on the day

Gold futures have found support right below the $1,900 area earlier today before inching up to $1,910, turning positive on daily charts. The precious metal lost ground, with the US dollar building up during the European session on Tuesday, to appreciate during the North American session with market sentiment improving moderately.

Gold News

Bitcoin breaks new yearly highs; the road to $15,000 is clear

Bitcoin breaks new yearly highs and hits $13,464. The road to $15,000 is clear as there are no major resistance levels above the current price.

Read more

WTI trims losses and moves near $39.00/bbl ahead of API

Following two consecutive daily pullbacks, prices of the West Texas Intermediate regain some buying interest and reach the $39.00 mark per barrel on turnaround Tuesday.

Oil News

Forex MAJORS

Cryptocurrencies

Signatures