Morning Markets: Gloom for equities, copper and Brexit
- Australia: GDP growth (already published)
- Germany: Manufacturing Orders (07:00 GMT)
- China: CPI (08:15 GMT)
- US: ADP National Employment Report (13:15 GMT)
- Canada: Bank of Canada interest rate announcement (15:00 GMT)
- US: EIA Weekly Petroleum Status Report (15:30 GMT)
- After a selloff on Wall Street and a sharp fall in copper, Asian markets lost ground
- Goldman Sachs said it doesn't think US tax cuts will improve medium-term growth
- Japan's Nikkei 225 took a dive; it closed down 1.97% at 22,177.04
- The Shanghai Composite was down by a hefty 0.92% to 3,273.15 at 0541 GMT
- Alibaba's Jack Ma praised China's one-party system at an internet summit today
- The Hang Seng retreated; it was down 1.68% to 28,358.06 at 0524 GMT
- HKSE-listed tech giant Tencent fell heavily, adding to recent sharp falls
- Copper prices were down 4.31% in the early hours of the Asian trading day
- Australia's Q3 GDP growth was 0.6% (0.7% was forecast), and 2.8% annually (vs 3.0%)
- Australia's flagging growth makes any RBA rate hikes unlikely in the near term
- Falls for miners outweighed gains for banks, dragging down the S&P/ASX200
- The S&P/ASX200 closed down 0.43% at 5,946.10
- The cryptocurrency Bitcoin soared to $12,000
- US dollar lost ground to the yen; it was worth ¥112.1000 at 0556 GMT
- AUD fell below 0.76 on weak Aussie GDP data; it was worth 0.7583 at 0556 GMT
From the Floor
Aussie lower. “We saw a brutal reversal in AUD as copper plunged,” says Hardy
China sells off. “The Hang Seng is trying to find support just above 28,000,” says Garnry
Get all the latest from Saxo Bank's trading floors in From the Floor, within the hour.
Wall Street's negative lead and a sharp fall in copper weighed on the S&P/ASX200, writes the team at Saxo Capital Markets (Australia).
Tencent in tech tumble
Like other global tech stocks, the telecommunications and internet giant Tencent has taken a hit; dragging Hong Kong's benchmark Hang Seng index with it, says Saxo APAC Sales Trading.
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