Asian markets trade mildly higher as the week opens. While China’s GDP slowed to lowest in 28 years in 2018, December data painted a picture of stabilization, with pick up in industrial production and retail sales. Sentiments were also supported by optimism over US-China trade negotiation. Focus will now move to UK Prime Minister Theresa May’s Brexit plan B, which she will table to the parliament today. Record US government shutdown is extending while it’s a holiday there too.
In the currency markets, Yen is trading broadly higher for now but strength is limited, in particular against Euro and Australian Dollar. Sterling is the second weakest one, continue to pare back last week’s Brexit chaos gains. But New Zealand Dollar is even weaker.
In Asian markets:
- Nikkei closed up 0.26%.
- Hong Kong HSI is up 0.35%.
- China Shanghai SSE is up 0.41%.
- Singapore Strait Times is up 0.51%.
- Japan 10-year JGB yield is down -0.0053 at 0.009, still positive.