Asia Pacific Markets Rise as Oil Prices Jump and Positive US Numbers

On this Monday morning (1 Sep), most of the Asia Pacific markets rised after WTI crude oil price jumped to $86.

Possibly, due to the US key economic indicators published on Friday, for example, the higher than expected unemployment rate published at 3.8%, but the newly added 187,000 jobs and ISM Manufacturing PMI at 47.6 are both giving a positive outlook on the US economy which might be a benefit to exporter to US.


The Hong Kong’s HSI is the top gainer with 2.3%, moving the index over 18,800, while Chinese Shanghai SSEC is gaining 1.1% over 3,160 as well as Shenzhen SZI is gaining 1.1% over 10,580.  Taiwan’s TWII is also following the gain train with 0.6%, rising over 16,730. Japan’s NIKKEI is also gaining almost 0.6%, touching 32,900. While other indices remain in the green side with under 0.5% gain except New Zealand’s NZX 50 that is getting 0.2% loss.


Meanwhile, US Futures indices are not making any moves as the S&P 500 is still over 4,520 and NASDAQ is touching 15,540. This low volatility is causing VIX going below 15 to 14.75 for now.


In contrast, the most active is the crude oil market as WTI has been rising from last week $80 to touching $86 per barrel on Friday night which is 7.5% raised in a week, while Brent is also touching week high at $89 per barrel as well. Both prices’ are slightly dropped by $0.5 this morning.


Finally, the dollar index (DXY) jumped to this year’s high side over 104, causing the approximately 0.6% drops to other USD pair currencies.