Weekly rebound in reach, China data deluge looms
By Jamie McGeever
Sept 13 (Reuters) -A look at the day ahead in Asian markets.
Asian stocks are poised to end the week on a strong footing on Friday, spurred on by another solid rise on Wall Street the day before that puts some keybenchmark indexes across the continent on track to register modest weekly gains.
The European Central Bank cut interest rates on Thursday and the Fed is set to begin a pretty substantial easing cycle next week. Although the former was no surprise and traders have been expecting the latter for a while, they are conducive to a 'risk on' environment that should boost sentiment in Asia on Friday.
The S&P 500 and Nasdaq both rose for a fourth consecutive day on Thursday. The S&P 500 came within 1% of its record high struck on July 15 and the Nasdaq, up 5.3% so far this week, is on track for its biggest weekly rise this year.
In other good news, Japan's Nikkei on Thursday snapped a seven-day losing streak in style, jumping 3.4%. Notably, it did so without the help of a weaker yen - the yen made a new high for the year against the dollar and although it recoiled, it still ended Thursday slightly stronger.
But if yen strength is to persist, the outlook for Japanese stocks is murky. Indeed, the outlook for global asset prices may also be murky if the yen carry trade unwind has further to run, as SocGen strategists expect.
This creates "clear market risks as market leverage in this cycle comes mainly from the Japanese currency," they said on Thursday, adding that they are increasing their yen exposure and reducing their Japanese equities exposure.
If markets across Asia are set to end the week on a high, the exception once again could be China. Shanghai stocks on Thursday posted their lowest close since January 2019.
Shanghai's blue chip index will likely end the week in the red, its fourth weekly fall in a row and the 14th decline out of the last 17 weeks. It's been a miserable run that has seen the index lose 15%, but surely it has to turn at some point. Right?
A batch of top-tier economic data from China over the weekend could be the trigger although that may require some rare upside surprises.
Beijing releases house price, investment, industrial production and retail sales figures for August on Saturday, and economists polled by Reuters generally expect the numbers to come in weaker than July's readings.
The calendar in Asia on Friday, meanwhile, sees the release of Indian wholesale price inflation, a speech by Bank of Thailand governor Sethaput Suthiwartnarueput and Bank of Japan board member Naoki Tamura.
Here are key developments that could provide more direction to Asian markets on Friday:
- India WPI inflation (August)
- South Korea import & export prices (August)
- New Zealand manufacturing PMI (August)
Chinese economic surprises index - negative since June https://tmsnrt.rs/3Zizqrh
Asian stocks this year - China significantly underperforming https://tmsnrt.rs/4ehAwYq
Reporting by Jamie McGeever;
Editing by Deepa Babington
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
