In Asian Equity Markets indices were mainly higher in the first morning of November trading after a roller coaster October. The Greater China markets were higher in their first hour of trade. Hong Kong’s Hang Seng index rose 1.45 percent while the Shanghai composite advanced 1.13 percent. Japan’s Nikkei 225 remained in negative territory, however, falling by 0.57 percent while the Topix shed 0.5 percent. Tech giants were in focus, with shares of Panasonic falling 8.16 percent and conglomerate Softbank declining more than 7 percent.

 

In Currency Markets the British pound jumped on Thursday on a report that UK Prime Minister Theresa May has struck a deal with Brussels on financial services, while the dollar held near a 16-month high versus a basket of its key rivals on strong U.S. economic data. The pound, which was last $1.2843, up 0.62 percent on the day. The greenback got a lift overnight after the ADP national employment report showed that U.S. private sector payrolls increased by the most in eight months in October. The dollar index hit a 16-month high of 97.2 hit in the previous session.

 

In Commodities Markets oil prices fell early on Thursday, extending losses in previous sessions, amid signs of rising supply and growing concerns that demand might weaken on the prospect of a global economic slowdown. The Brent crude January futures contract lost 44 cents, or 0.32 percent, to trade at $74.72 per barrel. West Texas Intermediate (WTI) crude futures fell 46 cents to $65.01 a barrel. Both benchmarks posted their worst monthly performance since July 2016 on Wednesday, with Brent falling 8.8 percent for the month and WTI declining 10.9 percent.

 

In US Equity Markets stocks rebounded for a second day on Wednesday as investors snapped up beaten-down technology and internet favorites and strong company results lifted spirits, even as the S&P 500 closed out its worst month in seven years. The S&P 500 lost 6.9 percent in October, while the Nasdaq shed 9.2 percent, its biggest monthly loss since November 2008. For the day the S&P 500 gained 1.09 percent, to 2,711.74 and the Nasdaq Composite added 2.01 percent, to 7,305.90. The financial sector rose 1.4 percent.

 

In Bond Markets U.S. Treasury yields rose on Wednesday in step with equities, as a stronger stock market reduced safe-haven demand for U.S. government debt. Benchmark 10-year Treasuries yields were up nearly 3 basis points, and closed at 3.153 percent, but holding below a more than seven-year high of 3.261 percent hit on Oct. 9. Yields at either end of the curve were up, with the 30-year bond up about 2 basis points on the day last at 3.401 percent and the 2-year note up about one basis point, last at 2.875 percent.

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