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Asian Market Update:.

Asian Market Update: Treasury yields are down -0.9 bp at 1.76%, but JGB rates are up 0.6 bp at -0.148%, despite a decline in PMI readings for October and as local stock markets moved higher. Moody's affirmed Japan's A1 rating with a stable outlook. Meanwhile China denied it is planning to replace Hong Kong CEO Carrie Lam and markets will be watching comments from U.S. Vice President Pence, who will be speaking on China today. A raft of earnings reports underpinned an overall positive session on Asian stock markets after the S&P 500 index pushed above the 3,000 level. Topix and Nikkei are up 0.4% and 0.6% respectively, the Hang Seng gained 0.5% so far and the ASX is up 0.3%, while mainland China bourses are under-performing, with CSI 300 and Shanghai Comp down -0.2% and -0.3% respectively. Nasdaq futures are higher as Microsoft Corp revenues beat forecasts, but Dow Jones and S&P futures are in the red. Oil priced settled lower after spiking again on supply concerns, with the front end WTI future currently trading at USD 55.53. Turkey's lira rallied after U.S. President Trump signaled he will lift recent sanctions. USD-JPY is trading slightly lower at 108.61.

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Publication:The Fly
Geographic Code:9CHIN
Date:Oct 24, 2019
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