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24 Hour Market News

Asian Closing Report

October 12, 2017

Asian equity markets traded mostly higher (NIKKEI +0.4%, S&P/ASX +0.3%, SHANGHAI COMPOSITE -0.2%) after the record close on Wall Street in the wake of yesterday’s FOMC minutes release. On the data front, Japanese producer prices gained as expected in September, up 0.2% m/m and 3.0%, while bank lending including and excluding trusts both rose 3.0% y/y. Down under, Aussie home loans topped forecasts in August, rising 1.0% (f/c +0.5%) m/m, while New Zealand’s consumer confidence index fell to 126.3 in October. In Europe, the UK’s RICS house price balance held at +6 (f/c +4) in September. We also heard from China’s Commerce Ministry who said new trade rules from the EU lack awareness of WTO rules and urges EU to abide by rules set by the WTO. Stateside, US President Trump said they are looking at repatriation tax rate around 10%. In other news, the PBoC set the yuan mid-point at 6.5808 against the Dollar and injected 20 Bln yuan via 7-day reverse repos.

For a more detailed report, please visit the ‘Market Research’ section.