Forex Marketz Daily Forex News – Fully Markets Update
Asian markets managed to inch higher, but were overall mixed, as Asian traders are watching for trade comments between the United States and China. Trader sentiment was boosted, a bit, on stronger than expected U.S. retail sales data but concerns over Treasury yields are still rattling overall sentiment on Friday.
The Nikkei 225, in Japan, recovered from early losses to gain a fraction. In Tokyo, the broader Topix index was up 0.1 percent.
In South Korea, the benchmark Kospi composite index was down three quarters of a percent. Shares of SK Hynix fell 1.3 percent and LG Chem shed 1.4 percent.
Elsewhere in the Asian and Pacific Rim, the Australian S&P ASX 200 was trading lower. Most sub-sectors were in the red on Friday.
In China, on the mainland, the Shenzhen composite added over one percent and the Shanghai composite was up 0.68 percent. The Shenzhen component added 1.02 percent.
In Hong Kong, the benchmark Hang Seng index was up 0.8 percent by lunch time.
Asian Traders React to Better than Expected U.S. Retail Sales Data and watch Bond Yields
Economic data released on Thursday out of the United States was a small boost for sentiment today.
For the month of July, U.S. retail sales rose by 0.7 percent. Consumers bought a range of products but cut back on car purchases. This welcomed piece of good news comes after a stark warning signal of a possible recession after the Treasury yield curve inverted for the first time since 2007.
Trader sentiment was also boosted as positive trade war comments were made out of the United States. President Donald Trump said that trade talks with China were “productive.” Traders are hoping that this will reduce trade frictions between the two countries as those have sparked volatility in the global financial markets.
