DAILY MARKET NEWS

Bull-DIG

EQUITIES

Asian shares mostly higher, as Nikkei 225 leading the gain at 1.88%, Singapore’s 1.11%, South Korea’s KOSPI rose 0.77%, and China's Shanghai Composite up 0.20%. Meanwhile, Hong Kong's Hang Seng loss -0.11%. and Australia S&P/ASX 200 also down by -0.63%.

Overnight, the three major indexes closed higher, with Big Tech names soaring. The S&P 500 fell just short of a new record close, gaining 1.4% in the biggest one-day jump since July 6. The Dow Jones jumped 1.1%, while the Nasdaq Composite outperformed, rallying 2.1%.

OIL

Oil prices retreated the morning of Asian trading hours. Brent crude futures traded to $45.30 a barrel, while U.S. crude at $42.61.

On Wednesday, Brent closed at $45.43 per barrel, while WTI futures ended at $42.67 per barrel.

CURRENCIES

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 93.23, fell 0.3% on Wednesday but is still well above the two-year low reached last week.

The Japanese yen traded at 106.71 per dollar, weakening after levels above 105 earlier. The Australian dollar changed hands at 0.7164, briefly rose after employment data showed better-than-expected hiring last month.

GOLD

Gold currently trading at $1,930,90 per ounce, while stands around $1,940.00 per ounce for gold futures. Previously closed at $1,913.90 and $1,949.00, respectively.

Silver trading at $25.72, platinum trading at $928.00 and palladium trading at $2,036.00.

ECONOMIC OUTLOOK

Asia Pacific markets jumped in early trade on Thursday, following a surge in the U.S. markets overnight as tech stocks rallied, and traders seemed to shrug off uncertainty over a second coronavirus stimulus bill.

Australia’s unemployment rate ticked up to a 22-year high of 7.5% in July, with employment jumped by 114,700 in July, though a fresh wave of coronavirus infections in Victoria further threatening the outlook.

Japan's wholesale price fall eases 0.9% in July from a year earlier, Bank of Japan data showed on Thursday.

U.S. fuel demand rose to 19.37 million bpd last week, the highest since March, data from the EIA showed, while crude output fell to 10.7 million bpd from 11 million bpd.

China’s aviation regulator reported that passenger numbers in July fell 34.1% from a year earlier. That marked a recovery from a YoY decline of 42.4% in June.

To date, number of confirmed worldwide cases for COVID-19 pandemic has surpassed 20.806 million affecting 213 countries and territories around the world and 2 international conveyances, recording more than 747 thousand fatality globally.