Equity markets little changed in APAC

 October 16 at 11:52 PM
BEIJING — Asian stocks were little-changed Tuesday after Wall Street’s major indexes rose to new highs as China prepared to open a key political meeting.KEEPING SCORE: The Shanghai Composite Index was off 0.1 percent at 3,374.66 while Tokyo’s Nikkei 225 was unchanged at 21,260.89. Hong Kong’s Hang Seng held steady at 28,707.80 and Sydney’s S&P-ASX 200 was up 0.8 percent at 5,892.70. Seoul gained 0.2 percent to 2,484.52 and benchmarks in Singapore and New Zealand also gained. Taiwan and Indonesia declined.

WALL STREET: Stocks extended a record-setting run into a sixth week. Financial, technology and energy stocks rose while healthcare issues declined. The Standard & Poor’s 500 index added 0.2 percent to 2,557.64. The Dow Jones industrial average rose 0.4 percent to 22,956.96. The Nasdaq composite gained 0.3 percent to 6,624.

ANALYST’S QUOTE: Dealers are digesting U.S. inflation data “while keeping an eye on geopolitical risk amidst the deluge of Fed chair speculative headlines,” said Stephen Innes of OANDA in a report. “Also, it’s worth keeping an eye on the expanding laundry list of geopolitical flashpoints,” he said, citing Korea, Iraq, ISIS and U.S.-Turkish tensions. “The Middle East looks like a powder keg waiting to explode.

CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Stephen Innes

Stephen Innes

Head of Trading APAC at OANDA
Stephen has over 25 years of experience in the financial markets and currently based in Singapore as the Head of Trading Asia Pacific with OANDA. Stephen's market views focus on the movement of G-10 and ASEAN Currencies. His views appear in Bloomberg, CNBC.Reuters, New York Times WSJ and the Economist. His media appearances include Bloomberg TV & Radio, BBC International, Sky TV, Channel News Asia, ASTRO AWANI and BFM Malaysia. Stephen has an extensive trading experience in Spot and Forward FX, Currency and Interest Rate Futures, Money Market Derivatives and Precious Metals. Before joining OANDA, he worked with organisations like Nat West, Chemical Bank, Garvin Guy Butler, and Sumitomo Mitsui Banking Corporation. Stephen was born in Glasgow, Scotland, and holds a Degree in Economics from the University of Western Ontario.
Stephen Innes
Stephen Innes

Latest posts by Stephen Innes (see all)