EQUITIES

Asian share markets are mixed in early trading, as Nikkei 225 down -0.50%, Mainland Chinese stocks, China's Shanghai Composite retreated -0.38%, Hong Kong's Hang Seng down -1.48%. Meanwhile, Singapore’s up 0.93%, South Korea’s KOSPI appreciated 0.92%. and Australia S&P/ASX 200 up 0.31% in early trading.

Overnight on Wall Street, Dow Jones rose 1.4%, the S&P 500 gained 0.6% and the Nasdaq Composite added 0.5%, posting a new record peak and closing high.

OIL

Oil prices little changed in the morning of Asian trading hours. Brent crude futures traded to $45.27 a barrel, while U.S. crude at $42.15.

On Wednesday, Brent closed at $45.17 per barrel, while WTI futures ended at $42.19 per barrel.

CURRENCIES

The dollar’s index against a basket of currencies edged down to 92.76, having fallen more than 0.5% in the previous session to approach its two-year low of 92.54 marked last Friday.

Asian currencies were on the march, with the Australian dollar gaining to around 72 U.S. cents, and the Korean won and Malaysian ringgit touching their strongest since March.

GOLD

Supported by demand for hedge against the dollar’s decline, gold was by far the best performer, hitting a record high of $2,055.3 per ounce overnight and last stood at $2,041.50 per ounce, while stands around $2,057.20 per ounce for gold futures. Previously closed at $2.,039.50 and $2,049.30, respectively.

Silver trading at $26.92, platinum trading at $969.00 and palladium trading at $2,060.00.

ECONOMIC OUTLOOK

Stocks in Asia Pacific traded mixed Thursday morning as investors continued to watch tensions between the U.S. and China, after U.S. Secretary of State said that President Donald Trump’s administration wants to ban “untrusted” Chinese apps such as TikTok and WeChat from U.S. app stores.

Investor focus will likely on coronavirus deal negotiations, as lawmakers remain divided over issues such as unemployment insurance, despite negotiations and talks so far, with the White House threatening to act on its own if it fails to reach a deal with Democrats.

The Bank of England expected to hold off from taking further action at its policy review later in the day, by keeping its benchmark interest rate at an all-time low of 0.1% and its bond-buying stimulus programme unchanged at 745 billion pounds ($980 billion).

The World Bank Group said it stands ready to assess Lebanon’s damage and needs after a devastating Beirut port explosion and will work to help mobilize public and private financing for reconstruction and recovery.

To date, number of confirmed worldwide cases for COVID-19 pandemic has surpassed 18.974 million affecting 213 countries and territories around the world and 2 international conveyances, recording more than 711 thousand fatality globally.

TECHNICAL OUTLOOK

[USDJPY]

Important Levels to Watch for Today:

- Resistance line of 106.087 and 106.538.

- Support line of 104.569  and 104.172.

Commentary/ Reason:

- The U.S. currency traded at 105.52 yen, having eased a tad in the past two days.

- Both Stochastic and RSI oscillators steadies around normal ranges of 50.

-  The MACD is trading below its signal line and negative. The configuration is negative.