Thursday, 5 October 2017

Australian retailers under pressure; Asian stocks in green

Posted by Valentine at 11:08 Labels:

Asian stock indexes showed a slightly positive dynamic on Thursday, with investors facing low trading volumes and activity levels as key markets in the region were closed for holidays.

Australia ASX +0.70 +0.01% 5,720.30 CLOSED
Shanghai Comp +9.30 +0.28% 3,348.94 CLOSED
Hang Seng Index +205.97 +0.73% 28,379.18 CLOSED
Nikkei 225 +1.90 +0.01% 20,628.56 CLOSED
TSEC 50 Index +48.92 +0.47% 10,518.27 CLOSED

On the data front, Australia presented trade balance figures for August, showing a A$989 billion surplus, above an initially estimated A$875 billion. On the other hand, retail sales fell by 0.6 percent, against a 0.3 percent build seen. Data put Australian retail stocks under pressure.

Ahead in the day, market players will be focusing on remarks from European Central Bank chief economist Peter Praet at 08:30 GMT and the release of ECB’s Account of Monetary Policy Meeting as of 11:30 GMT. ECB Executive Benoit Coeuré is due to speak at 12:15 GMT.

In the United States, attention will be directed to speeches from FOMC members Powell, Williams, Harker and George at 13:10 GMT, 13:15 GMT, 14:00 GMT and 20:30 GMT.

Also, initial jobless claims and trade balance figures in the US for August will be available at 12:30 GMT. Factory orders are scheduled for release at 14:00 GMT.

Yesterday, Wall Street top three indexes extended gains as economic data offered good support. The Dow Jones Industrial Average ended at 22,661.64, while the S&P 500 added 0.12 percent and the tech-heavy Nasdaq Composite closed at 6534.63, rising 0.04 percent.

ADP employment change exposed a 135,000 jobs build for September, above expectations for a 125,000 increase. However, it’s a much smaller figure than the previous month 228,000.

In a separate report, the Institute for Supply Management said its non-manufacturing PMI for September came in at 59.8, beating a forecasted 55.5 reading.

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