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Pre-Market Report: Mixed Global Markets and Higher Commodities

PART:
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Pre-Market Report: Mixed Global Markets and Higher Commodities PART 1 OF 5

Why Are Asian Markets Stable on July 14?

Economic calendar

8:30 AM EST – US core consumer price index (June)

8:30 AM EST – US core retail sales (June)

9:15 AM EST – US industrial production (June)

9:30 AM EST – FOMC member Kaplan speaks

10:00 AM EST – US Michigan consumer expectations (July)

1:00 PM EST – Baker Hughes’s oil rig count

Why Are Asian Markets Stable on July 14?

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China

After breaking the three-day losing streak and rising on July 13, China’s Shanghai Composite Index rose to three-month high levels on Friday.

The Chinese market regained strength this week after upbeat trade data. According to data released by the General Administration of Customs China, China’s exports have risen 11.3% YoY (year-over-year), while imports have risen 17.2% YoY in June. The market is also boosted by the improved outlook for China’s economy in 2H17. This week, most of the market strength was from blue-chip stocks, especially banking stocks. Investments shifted from small-cap stocks and startups to blue-chip stocks this week.

China’s Blue-Chip Index rose to 19-month high price levels on Friday amid increased buying. On July 14, the Shanghai Composite Index rose 0.13% and ended the day at 3,222.42. The SPDR S&P China ETF (GXC) rose 0.15% to $92.9 on July 13.

Hong Kong

After gaining for four consecutive trading weeks and rising to the highest price levels in two years, Hong Kong’s Hang Seng Index was strong on Friday. Upbeat sentiment in Asian markets along with support from Wall Street boosted the Hang Seng Index this week. The Hang Seng Index gained in all of the trading days this week and posted the best weekly gains in a year. It rose 0.16% and closed the day at 26,389.23. The iShares MSCI Hong Kong ETF (EWH) rose 0.51% to $23.79 on July 13.

Japan

Japan’s Nikkei Index closed flat on July 13 due to mixed sentiment. On Friday, Nikkei opened higher and closed the day with gains. On Friday, the risk appetite is weaker in Japanese markets ahead of major economic releases in the US. The market is supported by the strength in the transport and non-metal minerals sectors. Nikkei closed the day at 20,118.86—a rise of 0.09%.

In the next part, we’ll discuss how European markets performed in the morning session on July 14.

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