Macro readings from China came in higher than expected at 4.9% on an annualized basis vs. 4.5% expected and 6.3% previously. On a quarterly basis, growth was 1.3% vs. 0.9% expected and 0.8% previously. The unemployment rate was 5% lower than the 5.2% forecast and 5.2% previously.

Anna
October 18, 2023
2 minutes read

Macro readings from China came in higher than expected at 4.9% on an annualized basis vs. 4.5% expected and 6.3% previously. On a quarterly basis, growth was 1.3% vs. 0.9% expected and 0.8% previously. The unemployment rate was 5% lower than the 5.2% forecast and 5.2% previously.
China’s urban investment growth was 3.1% vs. 3.2% forecast and 3.2% previously. Industrial production came in at 4.5% m/m, 0.1% higher than analysts expected. Retail sales, however, were much higher than expected at 5.5% vs. 4.9% forecast and 4.6% previously
The HangSeng Index ended the Asian session unchanged after the release of important macro data. We also saw limited volatility on the KOSPI, Topix and Nikkei – these 3 indices ended the session from 0 to 0.3% higher.
Following the tragedy at the Al Ahli hospital in the Gaza Strip, where hundreds of civilians were killed by a rocket blast, we are seeing an escalation in the Middle East. The IDF indicates that Jihad militants are responsible for the attack
Russia and the United Arab Emirates have requested an urgent meeting of the UN Security Council later today, following the Al Ahli hospital tragedy
Following President Erdogan’s comments condemning the attack on the hospital, Israel has ordered the evacuation of all its citizens from Turkish territory
Two U.S. officials reported that the U.S. military thwarted an attack on U.S. troops in Iraq using unidirectional drones
At the same time, Hezbollah according to a terrorist communiqué planned a day of unprecedented anger against Israel and Biden’s visit, which was eventually canceled by the US.
According to Axios, the White House is discussing the possibility of using military force if Hezbollah joins the Gaza war and attacks Israel with its huge arsenal of rockets.
Yesterday’s U.S. API crude oil inventory data showed a massive decline of 4.38 million barrels, compared to a very strong increase of 12.94 million barrels the previous week. The market was expecting a nearly 3.5 times smaller drop in inventories of 1.26 million barrels
As a result of the escalation and the API reading, oil gains 0.7% today and is back to $91.5 per barrel (brent), but the VIX is only 1% higher – still below $19.
European index futures are mostly trading lower. EU50 loses nearly 0.25%
Bitcoin gains slightly and is trading at $28,700 with sharply reduced volatility from other cryptocurrencies

Latest news

Stock market indices in the Asia-Pacific region traded at mixed levels during Tuesday’s trading session. Korea’s KOSPI gained nearly 1.01% intraday, while Japan’s Nikkei was down 0.11%. The Hang Seng is currently performing poorly, trading down 0.88%.

November 28, 2023

Indices from Asia-Pacific launched new week’s trading lower. Nikkei drops 0.6%, S&P/ASX 200 is down 0.8%, Kospi and Nifty 50 decline 0.1% while indices from China trade 0.4-1.2% lower

November 27, 2023

After a moderately positive European session on Thursday and no trading on Wall Street, Friday’s sentiment in the Asian session was mostly weak. The HangSeng lost more than 1.7%, and South Korea’s KOSPI lost 0.7%. Japan’s Topix and Nikkei gained within 0.5%.

November 24, 2023

US indices finished yesterday’s trading higher with S&P 500 gaining 0.41%, Dow Jones moving 0.53% higher and Nasdaq adding 0.46%. Small-cap Russell 2000 gained almost 0.6%

November 23, 2023

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Macro readings from China came in higher than expected at 4.9% on an annualized basis vs. 4.5% expected and 6.3% previously. On a quarterly basis, growth was 1.3% vs. 0.9% expected and 0.8% previously. The unemployment rate was 5% lower than the 5.2% forecast and 5.2% previously.

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Latest news

Stock market indices in the Asia-Pacific region traded at mixed levels during Tuesday’s trading session. Korea’s KOSPI gained nearly 1.01% intraday, while Japan’s Nikkei was down 0.11%. The Hang Seng is currently performing poorly, trading down 0.88%.

Indices from Asia-Pacific launched new week’s trading lower. Nikkei drops 0.6%, S&P/ASX 200 is down 0.8%, Kospi and Nifty 50 decline 0.1% while indices from China trade 0.4-1.2% lower

After a moderately positive European session on Thursday and no trading on Wall Street, Friday’s sentiment in the Asian session was mostly weak. The HangSeng lost more than 1.7%, and South Korea’s KOSPI lost 0.7%. Japan’s Topix and Nikkei gained within 0.5%.

US indices finished yesterday’s trading higher with S&P 500 gaining 0.41%, Dow Jones moving 0.53% higher and Nasdaq adding 0.46%. Small-cap Russell 2000 gained almost 0.6%

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