Morning Report

Equity

Stocks in Asia mostly traded higher on Wednesday morning after the S&P 500and Nasdaq Composite closed in record high territory overnight on Wall Street.

The Nikkei 225 in Japan rose 0.24% in early trade. The Topix index also added 0.11 percent. Australia’s ASX 200 added 0.6% to touch more than 10-year highs as the sectors mostly advanced. In South Korea, the Kospi declined fractionally, with Hyundai Motor seeing its stock jump more than 1.8%.

Overnight on Wall Street, the S&P 500 added 0.9 percent to close at 2,933.68 — besting its previous record close of 2,930.75. The Nasdaq ended its trading day stateside up 1.3 percent at 8,120.82. The Dow Jones Industrial Average, meanwhile, added 145.34 points to close at 26,656.39 and was 1.1 percent from an all-time high.

Oil

Meanwhile, oil prices touched nearly six month highs on Tuesday as they continued their ascent after U.S. President Donald Trump’s administration announced on Monday that it will not extend sanctions waivers to countries that import Iranian oil.

Crude prices retraced some of those gains in Asian morning trade on Wednesday, with the international benchmark Brent crude futures contract slipping 0.47% to $74.16 per barrel. U.S. crude futures also fell 0.53% to $65.95 per barrel.

Currency

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 97.613 after rising sharply from levels below 97.5 in the previous session.

The Japanese yen traded at 111.82 against the dollar after seeing lows above 112.0 yesterday. The Australian dollarchanged hands at $0.7093 after seeing highs above $0.712 yesterday.

Published by prashanti forex

Prashanti Forex is managed by a certified treasury professional with an experience of more than 15 years in Finance and Advisory Business. His expertise come from various organisations, where he has gained knowledge and deep understanding of financial environment. His Principle Objective is providing customised advise with excellent service, committing a relationship based on integrity, understanding, honesty and trust. We are glad to offer you a boutique of services which will enable your organisation to enhance the profitability and efficiently manage the business risks. Our Services are : Treasury & Risk Management Solutions Trade Finance Wealth Management

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