Market Overview

How Are Asian Markets Doing Today?

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How Are Asian Markets Doing Today?

Major U.S. indices fell on Monday as the on-again-off-again hopes of a stimulus faded on Monday, with the White House not close to a deal. Dow lost 1.4%, the S&P shed 1.6% and the Nasdaq declined 1.7%. All 11 S&P500 sectors ended the day lower.

The negative sentiment in the world's largest economy is flowing through Asian markets Tuesday despite the Dow and the S&P500 futures trading in green.

Japan's Nikkei 225 benchmark is trading 0.57% lower at press time, led by a plunge in airlines, banks, financials, and technology stocks. There are no major economic events scheduled for Tuesday.

China's Shanghai Composite benchmark inched lower by 0.13% at press time, as strong economic data from China showed consumption is recovering. Financials and energy names are trading lower, mostly offset by a rise in consumer, services, and utility stocks. The People’s Bank of China kept their loan prime rate unchanged at 3.85% on Monday, in-line with consensus.

Hong Kong's Hang Seng is trading lower by 0.30%, led by declines in financials and healthcare stocks. Investors will be watching September's unemployment numbers due to release Tuesday.

Australia's S&P/ASX 200 is trading 0.65% lower towards the end of the trading day. Investors will be watching Westpac/Melbourne Institute Leading Index numbers due Tuesday.

India's Nifty 50 is the only Asian bourse trading in the green, rising 0.20% in early trade on top of gains on Monday. Autos, technology, and media stocks are trading higher, partially offset by losses in PSU bank stocks. There are no major economic events scheduled Tuesday.

South Korea's KOSPI lower by 0.28%, driven by energy, consumer, and financial names. Producer Price Index data for September is due to release Tuesday.

Forex Trading: U.S. Dollar Index futures are hugging the flatline at 93.404. The dollar has gained 0.10% against the Japanese Yen to 105.53, and 0.09% against the Chinese Yuan to 6.6863.

Emerging Markets ETFs To Watch: Vanguard FTSE Emerging Markets ETF (NYSE: VWO) and SPDR Portfolio Emerging Markets ETF (NYSE: SPEM).

 

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