Australian market expected to open higher 14/11/19

Australian market expected to open higher 14/11/19

OPENING CALL: The Australian share market is expected to open higher. The SPI200 futures contract expected to open up 17 points.

Reaching 10 million subscribers about 24 hours after the formal launch of Disney+ appearsto be a robust start, but it’s unclear how much each of those customers is worth to Disney.  





Alibaba applied for a secondary listing in Hong Kong, aiming to raise roughly $13 billion. The move gives the Asian financial hub a vote of confidence after monthslong demonstrations.  

Overnight Summary

 

 

Each Market in Focus

 

 

Australian shares tracked weakness in equities across the region as investors fretted that a resolution to the U.S.-China trade war is still far off.  

Down for a second day running, the S&P/ASX 200 declined 0.8% to 6698.3, settling at the session low.  

The biggest losses were in financial, mining and property stocks. The heavily weighted big four banks — ANZ, Westpac, CBA and NAB — shed between 0.6% and 2%. The only bright spot was the technology sector, which rose 0.8%.  

 
 
Major U.S. stock indexes wobbled between gains and losses intraday as fresh doubts emerged over the prospects for a trade deal with China.  

The Dow Jones Industrial Average gained 0.4% in afternoon trading. The S&P 500 was up 0.1%, while the Nasdaq Composite was flat. All three indexes are near record highs.  

A report in the The Wall Street Journal that trade talks had hit a snag over Chinese purchases of U.S. agricultural goods sent the S&P 500 into negative territory in afternoon trading, but the index later bounced back.  

Another key question hanging over the talks is whether Washington will agree to remove existing tariffs on Chinese imports to secure an initial deal with Beijing, rather than just lifting the threat of further levies due Dec. 15.  

 

Gold and silver prices posted their first gain in five sessions, with uncertainty over the outlook for a U.S.-China trade deal and the first day of public impeachment proceedings against President Donald Trump helping to support haven demand for the precious metal.  

 
 
U.S. benchmark oil prices rose moderately, ending the session 0.6% higher at $57.12/barrel in continued tight-range trading as investors await a weekly U.S. oil inventory report from trade group API that’s due at 4:30 p.m. ET.  
 

The WSJ Dollar Index, which measures the currency against a basket of 16 others, was down 0.03% at a recent 91.11.  

The STOXX Europe 600 Index closed down 1.04 points, or 0.25%, to 405.86. The FTSE 100 Index was down 14.23 points, or 0.19%, to 7351.21, while the German DAX was down 53.44 points, or 0.40%, to 13230.07 and the French CAC-40 Index was down 12.66 points, or 0.21%, to 5907.09.  

Major indexes across Asia fell, and ongoing political unrest in Hong Kong drove the Hang Seng lower by 1.8%.  

Japan’s benchmark Nikkei Stock Average closes 0.9% lower at 23319.87 on renewed concerns about the progress of U.S.-China trade talks.  

The Hang Seng Index extended morning’s weakness to end the session 1.8% lower at 26571.46 on violent clashes between protesters and the police dragged on in Hong Kong.  

1597.22. Singapore’s benchmark share index closed lower, weighed by broad declines in offshore and marine stocks. The FTSE Straits Times Index shed 0.9% to close at 3239.22.  

Indian shares closed lower following declines elsewhere in Asia. The benchmark BSE Sensex ended 0.6% lower at 40116.06, with only five of its 30 constituents closing higher.  


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