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Global Markets Today: Nikkei Surges To 3-Decade High

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Global Markets Today: Nikkei Surges To 3-Decade High

Global markets have continued the positive trend on Wednesday, taking cues from the U.S. indices. The Dow futures are up 0.37%, and the S&P 500 futures have gained 0.33% in early Wednesday's trade on the last check. 

WTI crude futures are up 2.3% to $42.32, while gold futures are down a marginal 0.07% to $1,875.10. The 10-Year Treasury Yield is up by two 2 basis points at 0.96%.

Asia: Japan's Nikkei 225 closed higher by 1.78%, the seventh consecutive session of gains as global investors hunt for post-COVID-19 growth plays. The close at 25,349.60 was the highest for the index since June 1991, as noted earlier by Reuters. The machine tool orders for October fell 5.9% year-over-year. Japan has a busy economic calendar for Wednesday with PPI, foreign bonds buying, Tertiary Industry Activity Index, and Machinery orders data scheduled for release.

China's Shanghai Composite benchmark fell by 0.53% on Wednesday due to tighter regulations governing big tech companies. New loans for October fell to CNY 689.8 billion — missing the consensus of CNY 800 billion.

Australia's S&P/ASX 200 advanced for the fifth consecutive day, closing higher by 1.72%. The consumer sentiment for November improved by 2.5%, missing a consensus of 3.8%. Inflation expectations data is scheduled to release late Wednesday.

Hong Kong's Hang Seng index closed lower by 0.28%, taking cues from China's regulations. South Korea's Kospi shot up 1.35% despite the unemployment rate rising to 4.2% in October. Trade balance data is due for release today.

India's Nifty 50 is trading higher by 0.83% on last check Wednesday, rising for the eighth consecutive day.

Europe:  Euro Stoxx 50 gained 0.27% at press time Wednesday. Investors will be watching the European Central Bank members speak later today.

London's FTSE 100 index is trading higher by 0.37%, led by gains in banks, energy, and retailers — partially offset by losses in media, travel, and industrial stocks. GDP estimate and House Price Index data are due later today.

Germany's DAX is up by 0.43% despite the economic sentiment for November falling to 39 versus the consensus of 41.7. Healthcare and technology shares were rising early Wednesday, while financials were trading lower.

France's CAC 40 is up by 0.42%, on top of gains in the last two sessions. Spain's IBEX 35 index was trading flat on the last check.

Forex Trading: U.S. Dollar Index futures are up by 0.12% to 92.840. The dollar has gained 0.17% against the Euro to $1.1795, lost 0.17% against the Sterling Pound to $1.3293, and gained 0.1% against the Japenese Yen to ¥105.43.

For news coverage in Italian or Spanish, check out Benzinga Italia and Benzinga España.

 

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