🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

GLOBAL MARKETS-Asian shares subdued, sterling awaits its fate

Published 13/03/2019, 11:23 am
© Reuters.  GLOBAL MARKETS-Asian shares subdued, sterling awaits its fate
EUR/USD
-
GBP/USD
-
USD/JPY
-
XAU/USD
-
US500
-
DJI
-
AXJO
-
JP225
-
BA
-
GC
-
LCO
-
ESZ24
-
CL
-
IXIC
-
US10YT=X
-
MIAPJ0000PUS
-
DXY
-

* Asian stock markets : https://tmsnrt.rs/2zpUAr4

* Asia shares ex-Japan drift lower in slow trade

* Sterling on knife-edge ahead of another Brexit vote

* Dow weighed down by second day of losses for Boeing (NYSE:BA)

By Wayne Cole

SYDNEY, March 13 (Reuters) - Asian share markets got off to a subdued start on Wednesday after a mixed finish on Wall Street, while a frazzled pound awaited its fate ahead of yet another make-or-break parliamentary vote on Brexit.

MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS eased 0.1 percent in slow trade. Japan's Nikkei .N225 dipped 0.3 percent and Australia's main index .AXJO slipped 0.4 percent.

E-Mini futures for the S&P 500 ESc1 were off 0.08 percent.

Risk appetite had been dampened after British lawmakers crushed Prime Minister Theresa May's European Union divorce deal, forcing parliament to decide within days whether to back a no-deal Brexit or seek a last-minute delay. voted against May's amended Brexit deal by 391 to 242 as her last-minute talks with EU chiefs on Monday to assuage her critics' concerns ultimately proved fruitless.

Parliament will vote later Wednesday on whether to leave the EU with no deal, and if that fails, a further vote on Thursday will decide whether to extend the Brexit deadline.

"The vote today seems certain to go against the government as well," said David de Garis, a director of economics and market at National Australia Bank.

"Assuming the Thursday vote finds a majority in favour of an extension - as we expect - it will likely be of some comfort to sterling," he added. "It's still a fast moving environment, with political pressure at understandably extreme levels."

The pound could do with some comfort after a wild couple of sessions. It was last at $1.3063 GBP= , having been as high as $1.3296 and as low as $1.3017 so far this week.

U.S. INFLATION SLOWS

On Wall Street, Boeing Co BA.N shed another 6.1 percent for its biggest two-day drop since June 2009, as more countries grounded the company's best-selling 737 MAX planes following Sunday's crash in Ethiopia, the second fatal crash in months.

The drop in Boeing pushed the Dow .DJI down 0.38 percent, even as the S&P 500 .SPX gained 0.30 percent and the Nasdaq .IXIC added 0.44 percent. .N

A soft U.S. inflation report for February burnished bonds while tarnishing the dollar. Annual consumer price inflation slowed to its lowest since September 2016 at 1.5 percent. data merely reinforced expectations the Federal Reserve will stay patient on rates and could even sound more dovish at its policy meeting next week.

Yields on U.S. 10-year notes US10YT=RR duly declined to a 10-week low at 2.596 percent, while the dollar fell for a third straight session against a basket of currencies to stand at 96.986 .DXY .

The dollar was flat on the yen at 111.30 JPY= , while the euro climbed to $1.1289 EUR= and away from last week's 20-month trough of $1.1174. USD/

In commodity markets, the dip in the dollar supported gold at $1,301.91 per ounce XAU= .

Oil prices edged up on tightening global supply after a Saudi official said the kingdom plans to cut oil exports in April, while the U.S. government reduced its forecast for domestic crude output growth. O/R

U.S. crude CLc1 was last up 29 cents at $57.16 a barrel, while Brent crude LCOc1 futures had yet to trade at $66.67.

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Asia stock markets

https://tmsnrt.rs/2zpUAr4 Asia-Pacific valuations

https://tmsnrt.rs/2Dr2BQA

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.