- 8:00 AM EST: FOMC member Rosengren speaks
- 9:00 AM EST: FOMC member Bullard speaks
- 10:00 AM EST: US JOLTs Job Openings (February)
- 10:00 AM EST: US Michigan Consumer Expectations (April)
- 1:00 PM EST: US Baker Hughes oil rig count
- 1:00 PM EST: FOMC member Kaplan speaks
After closing higher in the first three trading days of the week, China’s Shanghai Composite Index pulled back on April 12. On April 13, the Shanghai Composite Index opened the day higher but lost strength and closed the day in losses.
The market sentiment in China’s markets was strong at the beginning of this week amid decreased concerns about a potential US-China trade war. However, the sentiment weakened on Wednesday amid escalating tensions between the US and Russia about Syria. The tension cooled off following a tweet from President Trump about his stand on the Syria attack. China’s market opened higher on Friday. However, the market didn’t maintain the upward momentum due to weak economic data. According to the data released by the China General Administration of Customs, China’s exports declined 2.7% YoY (year-over-year) in March, which is disappointing compared to the market expectation of 10% YoY growth.
The Shanghai Composite Index declined 0.66% and closed the day at 3,159.05 on April 13. The SPDR S&P China (GXC) gained 0.2% on April 12.
Hong Kong’s Hang Seng Index pulled back on Thursday and broke a four-day gaining streak. Growing concerns about Syria dented the market sentiment and weighed on the Hang Seng Index on April 12. On April 13, the Hang Seng Index opened higher amid decreased concerns about Middle East tensions. However, the Hang Seng Index didn’t move higher due to China’s weak export data.
The Hang Seng Index gained 0.07% and closed the day at 30,854.00 on Friday. The iShares MSCI Hong Kong (EWH) gained 0.23% on April 12.
After declining for two consecutive trading days, Japan’s Nikkei Index opened higher on Friday amid the improved market risk appetite. However, the Nikkei Index didn’t rise higher amid uncertainty about how the US will handle the attack on Syria. The yen’s strength also limited the Nikkei Index’s gains on Friday.
The Nikkei Index gained 0.55% on April 13 and closed the day at 21,778.74. The iShares MSCI Japan (EWJ) declined 0.17% on Thursday.
Next, we’ll discuss how European markets performed in the morning session on April 13.