 Chinese stocks extend recent rally on news that US-China trade negotiation are completing its final stage. There could even be an announcement of Trump-Xi summit today and Trump meets Chinese Vice Premier Liu He. However, outside China, the markets are just mixed, without clear directions. Economic data released this week so far are rather disappointing, including German, UK and US data. There is risk of a pull back in the stock markets in reaction to trade news as focus immediately turn back to the poor economic fundamentals. In the currency markets, Canadian Dollar is currently the weakest one for today, followed by Dollar. Both will look into job data to be featured tomorrow. Sterling is the strongest one so far but after all, it's still bounded in familiar range against Dollar, Euro and Yen. There is no clear sign of a breakout yet, just like there is no sign of breakthrough in Brexit impasse. In Asia, Nikkei closed up 0.05. Hong Kong HSI is down -0.53%. China Shanghai SSE is up 0.65%. Singapore Strait Times is up 0.14%. Japan 10-year JGB yield is up 0.0073 at -0.043, staying negative. Overnight, DOW rose 0.15%. S&P 500 rose 0.21%. NASDAQ rose 0.60%. 10-year yield rose 0.036 to 2.517, back above 2.5 handle. |
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