Trade overview: current reports, trends, indices, stock prices, bonds, foreign exchange and commodities and analyst recommendations
07:50
Asian stock markets are running in a negative trend. The Japanese Nikkei index falls by 0.5%, in Shanghai and Shenzhen the indices lose more than 1% and in Hong Kong the Hang Seng retreats by 0.7%. On the other hand, in Taiwan and South Korea the indices are climbing, in Sydney there is stability.
In China, the Purchasing Managers’ Index in the manufacturing sector was a pleasant surprise and rose to 49.4 points, 0.2 points above forecasts and an increase of 0.4 points compared to the previous measurement. In Japan, retail sales climbed 2.4% in July compared to July last year, above forecasts for a 1.9% increase. Industrial production in the country increased by 1% when the expectation was for a 0.5% decrease.
Among the prominent shares in Asia: the oil giant Infix loses 3.7% in Tokyo against the background of the drop in oil prices yesterday (see below), Mitsubishi Motors increases by 2.6% and Subaru also strengthens. In Hong Kong, the real estate company Country Garden wipes out 6% in the highest trading volume on the Hang Seng, PetroChina falls by 2% and the electric car manufacturer Geely weakens by 3%. In contrast, the Hydilao restaurant group jumps by 8%.
In the foreign exchange market, the dollar is trading stably at around 3.32 shekels, the euro rises moderately to 3.33 shekels and the pound remains unchanged at around 3.87 shekels.
Wall Street futures are climbing this morning by 0.5%-0.6%, after closing in declines yesterday for the third day in a row. The 10-year US government bond yield climbs to 3.11%, the 2-year bond yield stands at 3.46%. Last night the Dow Jones fell 1%, the Nasdaq and the S&P 500 retreated 1.1%. Almost all stocks in the Dow ended the day in red territory, with the exception of American Express and JP Morgan which added less than 0.1% .
Crude oil prices are climbing about 1% this morning after being cut by a sharp rate of nearly 6% last night. The Brent oil contract for October delivery, the global benchmark, was trading at $100.1 a barrel. American WTI oil traded for $92.7 per barrel.
Also in the commodity market, gold traded stably around $1,723, wheat and rice without any real change. In the Bitcoin crypto no change, and traded at the level of 20.3 thousand dollars.
Today at 12:00 Israel time preliminary data of the consumer price index in the Eurozone will be published. According to forecasts, it climbed in August to an annual rate of 9%, compared to 8.9% in the previous measurement.