EQUITIES
Asia-Pacific markets were mostly advanced on Thursday. In Japan, the Nikkei 225 led gains among the region’s major markets as it rose 1.66%. The South Korea’s KOSPI added 0.12%, the Singapore’s Straits Times index rose 0.42%, the Australia’s S&P/ASX gains 0.48%, and the Hong Kong’s Hang Seng index at 0.51% higher.
Meanwhile, the Shanghai composite and the India’s S&P BSE Sensex Index both slipped around -0.30%.
Overnight on Wall Street, the Dow Jones Industrial Average fell 0.03%, to 31,060.47, while the S&P 500 gained 0.23%, to 3,809.84 and the Nasdaq Composite added 0.43%, to 13,128.95.
OIL
Oil prices eased for a second day as the threat of lower demand due to rising global COVID-19 cases outweighed support from a greater-than-anticipated a drawdown in U.S. crude inventories. The Brent crude futures traded to $55.98 a barrel, while U.S. crude at $52.81.
Overnight, the Brent closed at $56.06 per barrel, while WTI futures ended at $52.91 per barrel.
CURRENCIES
The U.S. dollar index rose for the fourth time in five sessions, little changed at 90.39, not far from near 3-year lows hit last week.
U.S. Treasury yields fell after rising for six straight sessions.
The Australian dollar changed hands at $0.7745, having seen an earlier low of $0.7726. The New Zealand dollar steadied after slipping a little overnight, at $0.7196.
Bitcoin headed for its worst week since March last year, after sliding almost $12,000 from an all-time high of $42,000 hit last week.
GOLD
The safe haven trading lower, at $1,839.90 an ounce, while slipped around $1,838.50 per ounce for gold futures. Previously closed at $1,844.60 and $1,854.90, respectively.
Silver trading at $25.19, platinum trading at $1,096.00 and palladium trading at $2,268.00.
ECONOMIC OUTLOOK
Stocks in Asia-Pacific were mixed in Thursday trade as investors regionally reacted to Chinese trade data for December, while also keeping eyes on the vaccine rollout and on the details of the next U.S. fiscal stimulus plan and as Congress began President Trump's impeachment hearings.
China’s exports rose 18.1% in December as compared with a year earlier, and imports grew 6.5%, according to customs data released Thursday.
U.S. crude oil stockpiles fell by 3.2 million barrels in the week to Jan 8 to 482.2 million barrels - more than expected, while gasoline and distillate inventories rose by 4.4 million barrels in the week to 245.5 million barrels.
To date, number of confirmed worldwide cases for COVID-19 pandemic has surpassed 92.313 million affecting 213 countries and territories around the world and 2 international conveyances, recording more than 1.977 million fatality globally.
TECHNICAL OUTLOOK
[USDJPY]
Important Levels to Watch for Today:
- Resistance line of 104.323 and 104.570.
- Support line of 103.526 and 103.280.
Commentary/ Reason:
- The dollar rose 0.15% to 104.024 yen, on report that Biden is due to announce his economic plans for “trillions” of dollars in pandemic relief on Thursday.
- The pair also moves higher after the Nikkei reported on Wednesday that the BOJ is likely to downgrade its assessment of the Japanese economy at its policy meeting next week, on concern that the latest emergency declaration will take a heavy toll on the economy.
- Japanese Prime Minister Suga on Wednesday expanded Japan's state of emergency beyond the Tokyo region to seven more prefectures, which now covers 60% of the Japanese economy.
