Morning Markets: Xi crowned in China while markets worry about Adern
- EU: Markit Manufacturing PMI (0800 GMT)
- EU: Markit Services PMI (0800 GMT)
- US: Markit Manufacturing PMI (1345 GMT)
- Asian markets were up in late trade shrugging off falls in Wall St overnight
- The ASX200 closed largely unchanged
- The Nikkei extended its 16-day winning streak to a 21-year peak
- China's 19th Party Congress drew to an official close today
- Chinese President Xi Jinping’s name was enshrined in the Communist Party charter
- China's new leadership lineup is expected to be unveiled on Wednesday
- Japanese manufacturing activity expanded in October but at a slower pace
- Japan's flash index for new orders also fell to 52.4 from 53.4 in September
- USDJPY remains elevated above 113 for the first time since July
- The Australian dollar traded early at 0.7805 against the USD
- The NZD slid after the incoming government announced details of its policy priorities
From the Floor
Flightless kiwi. “We see more NZD weakness to come on the government’s economically unfriendly policy mix,” says Hardy
Tech retracement. “The FAAMG stocks are leading tech-sector declines into Thursday’s earnings” says Garnry
Get all the latest from Saxo Bank's trading floors in From the Floor, within the hour.
The ASX200 is slow off the mark after a weaker Wall St overnight, writes the team at Saxo Capital Markets (Australia).
The failure of US equities markets to rise overnight had little effect on Asian markets, which did not follow suit, says Saxo APAC trading
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