DAILY MARKET NEWS

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EQUITIES

Asian share markets traded lower in today trading day, as China data released. Hong Kong's Hang Seng down -1.26% and China's Shanghai Composite down -1.61%. Meanwhile, Japan's Nikkei 225 retreated -0.49%, Singapore’s down -0.58%, Australia’s &P/ASX 200 loss -0.79%, and South Korea’s KOSPI down -0.68%.

OIL

Oil prices dipped in the morning of Asian trading hours. Brent crude futures traded to $43.51 a barrel, while U.S. crude at $40.89.

On Wednesday, Brent closed at $43.79 per barrel, while WTI futures ended at $41.20 per barrel.

CURRENCIES

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 96.11, just above a one-month low struck overnight.

The Japanese yen traded at 106.95 per dollar after strengthening sharply from levels above 107.1 yesterday. The growth-sensitive Australian dollar held close to 70 cents and near a month high, now at $0.6989.

The rupiah has been among the worst performing currencies in Asia this week, falling about 0.17% against the dollar.

GOLD

Gold prices inched up, rising above the $1,800 level, trading at $1,808.90 per ounce, while stands around $1,812.60 per ounce for gold futures as of writing time. Previously closed at $1,810.500 and $1,811.80, respectively.

Silver trading at $19.31, platinum trading at $822.00 and palladium trading at $1,928.00.

ECONOMIC OUTLOOK

Stocks in Asia Pacific retreated on Thursday morning trade as investors reacted to a slew of Chinese economic data released earlier.

Beijing reported that the country’s GDP grew by 3.2% in the Q2 of this year, compared to a year ago. While retail sales in June fell 1.8% YoY, and industrial output rose 4.8% YoY.

Australia’s unemployment rate jumped to 7.4% in June, from 7.1% in May and marking the highest since November 1998.

OPEC and its allies agreed to scale back oil production cuts from August as the global economy slowly recovers from the coronavirus pandemic. Cuts will officially taper to 7.7 million bpd until December.

To date, number of confirmed worldwide cases for COVID-19 pandemic has reached more than 13.692 million today affecting 213 countries and territories around the world and 2 international conveyances, recording more than 587 thousand fatality globally.