DAILY MARKET NEWS

EQUITIES

Asian share markets mixed, as Japan's Nikkei 225, Singapore’s, and South Korea’s KOSPI retreated -0.56%, -0.10% and -0.34%. On the opposite, China's Shanghai Composite led the gain side at 1.24%, with Hong Kong's Hang Seng rose 0.13%, and Australia S&P/ASX 200 rose 0.82% in early trading.

OIL

Oil retreated in the morning of Asian trading hours. Brent crude futures traded to $42.90 a barrel, while U.S. crude at $40.46.

On Wednesday, Brent closed at $43.10 per barrel, while WTI futures ended at $40.63 per barrel.

CURRENCIES

The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 96.76 after earlier declining from levels above 96.8.

The Japanese yen traded at 107.37 per dollar following a strengthening from levels above 107.6 yesterday. The Australian dollar changed hands at $0.6966 after bouncing from levels around $0.695 yesterday.

GOLD

Gold currently trading at $1,786.40 per ounce, while stands around $1,796.40 per ounce for gold futures as of writing time. Previously closed at $1,785.10 and $1,793.50, respectively.

Gold edged toward an almost eight-year high hit last week as the spike in coronavirus cases kept safety demand elevated, although the rally in stocks and strong U.S. services sector data limited the metal’s advance.

Silver trading at $18.31, platinum trading at $823.00 and palladium trading at $1,869 .00.

ECONOMIC OUTLOOK

Stocks in Asia Pacific traded mixed on Tuesday morning as investors await the Reserve Bank of Australia’s interest rate decision. The announcement by RBA is expected at about 12:30 p.m. HK/SIN.

U.S. service industry activity data rebounded to almost pre-pandemic levels last month, with the headline figure of 57.1 well ahead of expectations.

Malaysia set to cut OPR to record low. The central bank expected to reduce its OPR by 25 basis points to 1.75%.

Philippines’ annual inflation picked up to 2.5% in June, accelerating from a six-month low of 2.1% in May.

Japan's household spending drops at record pace, slumped 16.2% in May from a year earlier.

To date, number of confirmed worldwide cases for COVID-19 pandemic has passed reached more than 11.740 million today affecting 213 countries and territories around the world and 2 international conveyances, recording more than 540 thousand fatality globally.