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Asian markets rally on Wednesday and focus on midterm elections

2018-11-07 06:42 am | Resource: News | No Views : 37



Markets rose across the Asia-Pacific region as investors closely followed the midterm elections in the United States. Democrats are likely to win the House of Representatives, while the Republican Party remains in control of the Senate.

At the same time, Volkswagen AG announced that it had signed a $ 9 billion import deal with its joint venture, VW Volkswagen Automotive,

In Japan, the country's largest oil company, GGE Nippon Oil & Energy Corp., is considering resuming the import of oil from Iran. Tokyo has also been temporarily exempted from US sanctions targeting companies operating with Tehran.

North Korea postpones Bambio meeting

Politically, the scheduled meeting between US Secretary of State Michael Pompeo and North Korean Vice President Kim Young-chul was postponed indefinitely.

"The Bombo meeting with officials from the Democratic People's Republic of Korea, to be held this week in New York, will now take place at a later date ... We will resume the meeting when our schedules allow ... The ongoing talks will continue ... The United States remains focused on meeting the commitments agreed upon by President Trump President Kim at the Singapore Summit in June, "the Foreign Ministry said in a statement.

Kim and Pombo were supposed to discuss the implementation of the Singapore Summit and "Final Nuclear Disarmament and Full Verification of North Korea."

New Zealand's unemployment rate fell to 3.9% in the third quarter

On the data front, New Zealand's unemployment rate reached 3.9 percent seasonally adjusted in the third quarter of 2018, according to New Zealand statistics on Wednesday. That was well below expectations at 4.4 per cent and fell sharply from 4.5 per cent in the previous three months.

Employment was up 2.8 percent year-on-year, beating expectations for 2.0 percent gain after a 3.7 percent rise in the second quarter. The turnout was 71.1 percent, beating expectations of 70.9 percent - unchanged from a quarter the previous.

Australia's construction index fell in October 2018 slides

Australia's construction sector continued to contract in October, at a faster pace, the latest survey by the Australian Industry Group showed on Wednesday, with the construction performance index recording 46.4. This is below the 49.3 level in September and is moving beyond the 50 line or lever that separates the expansion from the contraction.

Among the individual components of survey, activity, recruitment, new orders and sales prices all remained in a state of contraction. Vendor deliveries, input prices and average wages continued to expand, albeit at slower rates.

Asian stocks trading
  • The Nikkei 225 was trading 0.80% in the Green Zone at 4:30 am CET.
  • South Korea's Kospi Composite Index rose 0.46% at 4:11 am.
  • China's Shanghai Composite Index rose 0.26% at 4:30 am CET.
  • While the Shenzhen Composite Index rose 0.64% at the same time.
  • The Hang Seng Index in Hong Kong rose 0.33% at 04:32 CET.
  • The Australian S & P / ASX 200 rose 0.05% at 04:46 CET. At the same time ,

The dollar traded against the yen, reaching 113.4235 at 04:29 CET.


Other analysis

NASDAQ Technical Analysis 16 November 2018

Time frame Used - four hours The NASDAQ 100 is moving in a bearish direction in the near term. The Nasdaq 100 is still facing resistance and selling pressure around the 6903 level and the trend is bearish after breaking the 6903 level down. In view of the technical indicators Both the RSI and the Stochastic are indicating to the arrival of indicators in the oversold, area and weakness of…

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