Indian Morning Briefing: Asian Markets Blended; China Caixin PMI at Three-Month Low

DJIA         34502.51    210.22     0.61% 
Nasdaq       14503.95    -24.38    -0.17% 
S&P 500       4297.50      5.70     0.13% 
FTSE 100      7037.47    -50.08    -0.71% 
Nikkei Inventory 28660.59   -130.94    -0.45% 
Dangle Seng    Closed 
Kospi         3282.89    -13.79    -0.42% 
SGX Nifty*   15763.50     16.5      0.10% 
*July contract 
USD/JPY  111.06-07  -0.04% 
Vary    111.17   111.03 
EUR/USD  1.1848-51 -0.07% 
Vary    1.1862   1.1847 
CBOT Wheat July $6.714 per bushel 
Spot Gold $1,770.59 Unch. 
Nymex Crude (NY) $73.52 $0.54 

U.S. shares traded in a slender vary, with the main indexes closing out the quarter at document highs following a June rally powered by expertise shares.

The S&P 500 rose 0.1%, marking the benchmark index’s thirty fourth document shut of the 12 months. The index is now up 14.4% in 2021, representing the most important first half acquire in a 12 months for the reason that first half of 2019. In the meantime, the Dow Jones Industrial Common added 0.6%. The tech-heavy Nasdaq Composite edged again from Tuesday’s document shut, declining 0.2%. The index nonetheless rose for the fifth consecutive quarter.


The Nikkei Inventory Common was down 0.1% at 28752.18, as falls in tech shares offset some positive factors in electronics and auto shares. Robust U.S. private-sector jobs knowledge in a single day added to warning about sustainability of U.S. coverage stimulus. Traders have been specializing in the tempo of Covid-19 vaccinations in Japan. The broader market index Topix was up 0.1% at 1945.47.

South Korea’s Kospi was down 0.2% at 3288.95 in early buying and selling, as losses in retail and shipbuilding shares led declines. Considerations about extra contagious Covid-19 variants have been outweighing optimism about an financial restoration after the nation’s launch of stable June commerce knowledge. Some traders booked revenue, additionally weighing on the inventory benchmark.

Chinese language shares declined in morning commerce after shortly weakening from opening positive factors. The benchmark Shanghai Composite Index shed 0.3% to 3579.61 and the Shenzhen Composite Index was down 0.7% at 2450.00. The ChiNext Worth Index, a measure for rising industries and startups, misplaced 0.7% to 3453.35. Southwest Securities expects 1H earnings outcomes to be a driver for the market within the coming weeks. The brokerage suggested traders to concentrate to sectors with promising earnings outlook, resembling new-energy and expertise industries.


JPY strengthened in opposition to most G-10 and Asian currencies amid persevering with worries over the Delta variant of Covid-19. Danger components, such because the Delta pressure and U.S. nonfarm payrolls report, will proceed to catch the attention of markets, IG mentioned. Whereas there’s optimism on the vaccine entrance to curb the Delta variant, Asia’s vaccination progress will want a considerable pickup to cope with the unfold of the virus. In any other case, Covid-19 restrictions will stay the go-to choice, delaying the tempo of financial restoration, IG added. AUD/JPY fell 0.2% to 83.16, EUR/JPY dropped 0.1% to 131.61 and SGD/JPY was down 0.1% at 82.51.


Gold consolidated, however nonetheless faces a draw back danger on the charts, analysts mentioned. From a technical evaluation perspective, gold costs are persevering with to consolidate after breaking beneath trendline assist of a so-called “bearish pennant,” which opened the door for additional draw back potential, mentioned. It pegs quick assist at $1,750/oz. The shifting common convergence divergence indicator has fashioned a bearish crossover and trended decrease, suggesting bearish momentum is dominating, added. Spot gold was little modified at $1,770.59/oz.


Oil edged increased amid blended developments. The weekly EIA report confirmed a big decline in crude oil inventories, however it additionally confirmed an sudden improve in gasoline stockpiles, TD Securities famous. Merchants appear unwilling to problem the latest higher sure of oil’s latest buying and selling vary, as unwelcome surprises on each demand and provide sides may forestall the worldwide market from tightening as anticipated, it added. Entrance-month WTI crude oil futures have been up 0.1% at $73.54/bbl, whereas Brent crude oil futures have been 0.1% increased at $74.70/bbl.

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Didi Inventory Rises on First Day 
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Qatar's Sovereign-Wealth Fund Trims Stake in Credit score Suisse 

(END) Dow Jones Newswires

June 30, 2021 23:16 ET (03:16 GMT)

Copyright (c) 2021 Dow Jones & Firm, Inc.

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