EQUITIES

Asian share markets mixed, as Japan's Nikkei 225, Singapore’s, Australia S&P/ASX 200, and South Korea’s KOSPI retreated -0.19%, -0.02%, -0.50% and -0.08%, respectively. On the opposite, China's Shanghai Composite gaining at 0.56%, with Hong Kong's Hang Seng rose 0.49% in early trading.

U.S. stocks fell on Tuesday, as both the Nasdaq and S&P 500 snapped five-day winning streaks. The Dow posted its first decline in three sessions.

OIL

Oil retreated in the morning of Asian trading hours. Brent crude futures traded to $43.03 a barrel, while U.S. crude at $40.59.

On Wednesday, Brent closed at $43.08 per barrel, while WTI futures ended at $40.62 per barrel.

CURRENCIES

Concern over the rise in new coronavirus cases helped lift safe-haven assets, including the U.S. dollar index, which was 0.15% higher at 96.94, against a basket of currencies.

The Japanese yen traded at 107.61 per dollar after seesawing between levels below 107.4 and above 107.7 against the greenback yesterday.

The Australian dollar at $0.6945 following a 0.4% decline on Tuesday. Sentiment for the Aussie has taken a hit after coronavirus lockdown measures were reimposed in Australia's second biggest city of Melbourne on Tuesday.

The yuan, which rallied against the dollar this week, stood at 7.191 in offshore trade, down from an almost four-month high reached on Tuesday.

GOLD

Gold currently trading at $1,794.00 per ounce, while stands around $1,806.10 per ounce for gold futures as of writing time. Previously closed at $1,794.90 and $1,809.90, respectively.

Gold hovered near a recent 8-and-half year peak as investors preferred safe-haven assets.

Silver trading at $18.30, platinum trading at $837.00 and palladium trading at $1,858.00.

ECONOMIC OUTLOOK

Stocks in Asia Pacific traded mixed on Wednesday morning as concerns around the coronavirus pandemic continue to linger, leading some investors to cash in on recent gains ahead of earnings season.

Volume on U.S. exchanges was 10.44 billion shares, compared with the 12.58 billion average for the full session over the last 20 trading days.

Oil prices eased in early trade on Wednesday as industry data showing a build in U.S. crude stockpiles and a forecast for U.S. crude output to fall less than anticipated in 2020 added to worries about oversupply.

To date, number of confirmed worldwide cases for COVID-19 pandemic has passed reached more than 11.949 million today affecting 213 countries and territories around the world and 2 international conveyances, recording more than 546 thousand fatality globally.

TECHNICAL OUTLOOK

[USDJPY]

Important Levels to Watch for Today:

- Resistance line of 108.818 and 108.165.

- Support line of 106.692 and 106.074.

Commentary/ Reason:

- The dollar traded at 107.629 in Asia following a 0.5% gain on Tuesday.

- Dollar could break out of its range against yen as currency options are set to expire later Wednesday and Thursday.

- Stochastic indicator is at value 85 signalling that the oscillator entering the overvalued ranges.

- RSI indicator recovered from overvalued range.

- The MACD is trading above its signal line and positive. The configuration is positive.