Market Overview

How Are Asian Markets Doing Today?

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How Are Asian Markets Doing Today?

Indices in Asia have advanced on Friday, taking optimism from Wall Street's gains on Thursday, with the Dow gaining 0.54% and the S&P 500 closing 0.52% higher. House Speaker Nancy Pelosi moving closer on a stimulus deal with President Donald Trump's administration and the FDA approving Remdesivir for treatment of COVID-19 added to the optimism.

Japan's Nikkei 225 benchmark is trading 0.33% higher at press time, stemming from positive economic data on Thursday. Banks, financials, and transport stocks are pulling the index higher. September's consumer price index fell 0.1% month-over-month but remained flat year-over-year. The core consumer price index fell 0.3% year-over-year, slightly better than the expected fall of 0.4%. The services PMI for October declined marginally to 46.6, compared to 46.9 last month, while the manufacturing PMI for October improved to 48. Investors will be watching the Commodity Futures Trading Commission's (CTFC) net speculative positions report due Friday.

China's Shanghai Composite benchmark is higher by 0.13% at press time. Banks and financial stocks have advanced in the afternoon's trade, partially offset by losses in energy, technology, and healthcare stocks. There are no major economic events scheduled for Friday.

Hong Kong's Hang Seng Index is trading 0.52% higher, extending gains for the sixth straight day. Banks and healthcare stocks are leading the charge. There are no major economic events scheduled for Friday.

Australia's S&P/ASX 200 is marginally lower by 0.10%, following a decline from Thursday. Mining and healthcare stocks are pulling the index lower, partially offset by gains in energy and financial stocks. CFTC's net speculative position report is due to release Friday.

India's Nifty 50 index is 0.47% higher at press time, flirting with the crucial 12,000 mark. All major sectors except realty are trading higher on Friday. Investors will be watching bank loan growth and bank deposit growth numbers scheduled to release later in the day.

South Korea's KOSPI is trading 0.44% higher in the afternoon's trade. All major sectors are pushing up the index, partially offset by losses in consumer staple stocks. There are no major economic events due Friday.

Forex Trading: U.S. Dollar Index futures have extended gains from Thursday, 0.10% to 93.058 in early Friday's trade. The dollar has weakened 0.12% against the Japanese Yen to 104.69 but gained a marginal 0.03% against the Chinese Yuan to 6.6838.

 

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