asian traders on edge ahead of key global events
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Asian traders on edge ahead of key global events

Arab Today, arab today

Arab Today, arab today Asian traders on edge ahead of key global events

British Prime Minister Theresa May
Hong Kong - Arab Today

Traders trod water in Asia on Wednesday as they nervously await a string of major events that could hammer global markets or fuel a rally.

Thursday sees Britain voting in general election, the European Central Bank's policy meeting and -- in what could be the biggest market-mover -- sacked FBI boss James Comey's testimony on President Donald Trump's campaign links to Russia.

Adding to the sense of unease is a brewing crisis in the Middle East, where Saudi Arabia, the UAE and Egypt cut off ties and transport links to Qatar citing its support for extremism.

There are worries the spat could turn into a wider conflict that takes in Qatar ally Iran, with Trump wading into the row in a series of tweets signalling support for Riyadh on the issue.

After a recent rally, trading floors have quietened as dealers take a wait-and-see attitude, lifting safe-haven assets such as the yen and gold.

“There seems to be a little bit of nervousness in the market over Comey’s testimony,” Greg McKenna, chief market strategist at AxiTrader, said in a note.

"Whether it is geopolitics and the Middle East, worries about James Comey's testimony, the ECB, or UK election, traders backed off a little overnight.”

The yen held at the 90.50 range against the dollar, more than 1.5 percent stronger than last week, while gold was hovering around seven-month highs. The two are considered safe bets in times of uncertainty.

On equity markets Tokyo's Nikkei was down 0.3 percent by the break as the strong yen hurt exporters, while Seoul slipped 0.1 percent and Wellington lost 0.7 percent.

Sydney shed 0.1 percent following data showing Australia's economic growth slowed sharply in the first quarter and missed expectations.

However, Shanghai was up 0.7 percent, Hong Kong added 0.1 percent and Singapore put on 0.3 percent.

On currency markets the pound is holding up against the dollar ahead of the British vote.

Sterling has come under pressure in the past few weeks as Prime Minister Theresa May's ruling Conservatives have seen their once-commanding lead almost wiped out by the opposition Labour Party, raising worries about uncertainty just weeks ahead of Brexit negotiations.

The euro also remains in good health following a string of positive indicators out of the eurozone, led by Germany, and expectations the ECB will start to tighten monetary policy soon -- possibly Thursday.

 - Key figures around 0230 GMT - 

Tokyo - Nikkei 225: DOWN 0.3 percent at 19,916.85 (break) 

Hong Kong - Hang Seng: UP 0.1 percent at 26,026.25

Shanghai - Composite: UP 0.7 percent at 3,125.03

Pound/dollar: DOWN at $1.2903 from $1.2910 at 2130 GMT

Euro/dollar: DOWN at $1.1271 from $1.1278 

Dollar/yen: UP at 109.50 yen from 109.42 yen

Oil - West Texas Intermediate: DOWN 16 cents at $48.03 per barrel

Oil - Brent North Sea: DOWN 17 cents at $49.95

New York - Dow: DOWN 0.2 percent at 21,136.23 (close)

London - FTSE 100: FLAT at 7,524.95 (close)

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

asian traders on edge ahead of key global events asian traders on edge ahead of key global events

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

asian traders on edge ahead of key global events asian traders on edge ahead of key global events

 



GMT 12:47 2016 Thursday ,01 September

'La La Land' musical masterpiece dazzles Venice film fest

GMT 12:42 2017 Monday ,20 February

Dalia al-Behairy begins 'Yawmiyat Zoga Mafrosa'

GMT 19:01 2017 Wednesday ,30 August

Oil prices down as US reels from Harvey

GMT 04:19 2017 Monday ,08 May

National forces attack mercenaries in Taiz

GMT 19:21 2017 Sunday ,07 May

Iranian Film Week opens in Baghdad

GMT 21:33 2017 Sunday ,30 July

Arab Quartet meeting kicks off in Bahrain

GMT 17:17 2016 Friday ,07 October

Aleppo bleeds as US and Russia spar

GMT 12:03 2015 Monday ,21 December

Nepal protester killed in constitutional crisis clash

GMT 09:47 2016 Thursday ,22 December

Trump vows to cut F-35 spending, as leaked memo

GMT 21:44 2017 Friday ,15 December

King establishes Hawar Development Committee

GMT 20:57 2017 Tuesday ,16 May

Naval Forces rescue 23 tourists in Hurghada

GMT 12:56 2017 Monday ,11 December

Lyon leave it late, Balotelli with Nice winner

GMT 06:18 2017 Thursday ,19 October

Russian delegation meets with Julphar chairman

GMT 21:20 2017 Monday ,23 October

Nasr, delegation of London Stock Exchange

GMT 14:40 2012 Saturday ,10 March

Magdy Al-Galad steps down

GMT 09:47 2017 Sunday ,12 March

Cat Camp in New York attracts cat lovers

GMT 14:57 2016 Friday ,09 September

Madonna, Ritchie settle child custody dispute

GMT 23:52 2017 Monday ,18 September

UAE economic growth boosting logistics sector
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday