Forex Marketz Daily Forex News – Fully Markets Update
The equity markets in the Asian and Pacific Rim were trading on a positive note for the first trading day of 2020. The private Caixin PMI data, out of China, boosted sentiment, even as it missed expectations.
Also, Asian traders were on edge over rising geopolitical tensions in the Middle East.
The financial markets in Japan are closed today for a public holiday.
In South Korea, the Kospi composite was trading down over one percent by lunchtime (HK standard time). Shares of blue chip Samsung Electronics were down over one percent.
South Korean economic data showed that the country’s exports, in December, fell less than expected.
Elsewhere in the Asian and Pacific Rim, the Australian S&P ASX 200 was up 0.12 percent.
Economic data out of China, for the month of December was released early in the morning. The private Markit/Caixin purchasing managers’ index (PMI) for manufacturing came in 51.5. The Caixin PMI printed at 51.8 in November. December’s print was below what the markets expected at 51.7.
On the mainland, in China, the headline stock indices were higher in the morning. The Shanghai composite added about one percent. The smaller Shenzhen composite was up 1.13 percent and the Shenzhen component added about one percent.
In Hong Kong, the Hang Seng index tacked on about three quarters of a percent.
Asian Traders Monitor Rising Tensions between Iran and the United States
Today, traders are watching mounting tensions in the Middle East as the U.S. and Iran, once again, but heads.
These tensions come after U.S. airstrikes, over the weekend, in Iraq against the Iranian supported Katib Hezbollah militia group.
Yesterday, the Katib Hezbollah militia group sacked the U.S. Embassy in Baghdad. The United States has deployed more troops to the region and blamed Iran solely for this attack.
On more positive headlines, surrounding trade, on Tuesday, President Donald Trump said that the preliminary trade agreement with China will be signed at the White House on January 15.
