8:30 AM EST – US Non-farm Productivity (Q2)
8:30 AM EST – US Unit Labor Costs (Q2)
10:30 AM EST – US Crude Oil Inventories
1:00 PM EST – US Ten-Year Note Auction
7:01 PM EST – U.K. RICS House Price Balance (July)
After starting the week on a stronger note and rising for two consecutive trading days, China’s Shanghai Composite Index pulled back on August 9. China’s weaker-than-expected economic data along with geopolitical concerns weighed on the Shanghai Composite Index on Wednesday.
According to data released by the National Bureau of Statistics of China in after-market hours on Tuesday, China’s consumer price index rose 0.1% in July—less than the market’s forecast of a 0.2% rise. On the other hand, China’s producer price index rose 5.5%—in line with the market’s expectations. President Trump’s comments about North Korea sparked geopolitical tensions and weighed on the market.
On August 8, the Shanghai Composite Index fell 0.19% and ended at 3,275.57.
After starting this week on a stable note and rising to fresh two-year highs on Tuesday, Hong Kong’s Hang Seng Index pulled back on August 9. Weaker global sentiment amid tensions with North Korea and Wall Street markets pulling back weighed on the Hang Seng Index on Wednesday. On the other hand, the real estate sector supported the Hang Seng Index and limited the losses. The Hang Seng Index fell 0.35% and closed the day at 27,757.09. The iShares MSCI Hong Kong ETF (EWH) rose 0.28% to $24.65 on August 8.
Japan’s Nikkei Index started this week on a stronger note amid supporting economic data. However, it fell below 20,000 on Tuesday amid dented market sentiment and increased selling. On Wednesday, the Nikkei Index opened the day lower and closed at more than two-month lows. Increased tensions with North Korea weighed on the Nikkei Index on Wednesday. The Nikkei Index fell 1.3% and closed the day at 19,738.71.
In the next part, we’ll discuss how European markets performed in the morning session on August 9.