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Pre-Market Report: Global Markets Are Mixed on September 13

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Pre-Market Report: Global Markets Are Mixed on September 13 PART 1 OF 4

Asian Markets Are Stable amid Improved Market Sentiment

Economic calendar

8:30 AM EST – US producer price index (August)

10:30 AM EST – US crude oil inventories

2:00 PM EST – US federal budget balance

7:01 PM EST – UK RICS house price balance (August)

10:00 PM EST – China’s fixed asset investment (August)

10:00 PM EST – China’s industrial production (August)

10:00 PM EST – China’s retail sales (August)

Asian Markets Are Stable amid Improved Market Sentiment

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China

After briefly pulling back last week, China’s Shanghai Composite Index regained its strength this week. It started the week on a stronger note by rising on Monday. It has continued to strengthen this week. On Wednesday, the Shanghai Composite opened lower but regained strength as the day progressed. It rose for the third consecutive day.

On September 13, the market was pushed higher by increased economic confidence amid the Chinese government’s economic reform plans. The strength in consumer and real estate stocks supported the market, while weakness in banking stocks limited the upward movement. The market is looking forward to retail sales, industrial production, and fixed asset investment data that are scheduled to release at 10:00 PM EST today. On September 13, 2017, the Shanghai Composite Index rose 0.14% and ended at 3,384.15. The SPDR S&P China ETF (GXC) rose 0.23% and closed at 102.41.

Hong Kong

After rising for three consecutive trading days, Hong Kong’s Hang Seng Index pulled back on Wednesday. Despite a strong rally on Wall Street to fresh record highs, the Hang Seng Index fell on Wednesday. The financials and property sectors weighed on the index. On September 13, the Hang Seng Index fell 0.28% and closed the day at 27,894.08. On September 12, the iShares MSCI Hong Kong Index (EWH) fell 0.52% and closed at 24.91.

Japan

After having a strong start this week, Japan’s Nikkei Index rose in the first two trading days. The Nikkei Index opened higher on Wednesday and closed the day at the highest levels in more than a month. The market is looking forward to the release of industrial production data on September 14. The Nikkei Index closed the day at 19,865.82—a rise of 0.45%. The iShares MSCI Japan Index (EWJ) rose 0.07% to 55.26 on September 12.

In the next part of this series, we’ll see how European markets performed in the morning session on September 13, 2017.

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