Asia Pacific Markets Fall ahead of China Trade and Australia’s Rate Announcements

All of Asia Pacific major indices fell on Tuesday morning (7 Nov, 9:30 AM, GMT+7, Bangkok time). The markets reversed yesterday’s direction before the announcements of China trade balance and Reserve Bank of Australia interest rate decision.


Japan’s NIKKEI dropped by 0.85% to 32,431.89. South Korea’s KOSPI plunged by 2.3% to 2,444.94, and Australia’s ASX 200 edged down by 0.34% to 6,973.8.

As for stocks in China, Shanghai’s SSEC slid by 0.5% to 3,045.15. Hong Kong’s HSI fell by 1.24% to 17,743.64, and Shenzhen’s SZI slid by 0.64% to 10,007.48.


Meanwhile, last night US markets’ rally continued but it seems to start to slow down. The most notable stock was LLY with almost 5% gain which reversed its 2% loss in the prior session.

Dow Jones Industrial Average (DJIA) climbed by 0.1% to 34,095.86. NASDAQ rose by 0.3% to 13,518.78 and S&P 500 edged up by 0.18% to 4,365.98. On the other hand, VIX falling started to slow down to 0.13% to 14.89.


As for commodities futures, the oil prices rose after the OPEC nations, namely Saudi Arabia and Russia, still continued their supply cut. However, the prices settled much lower than their peaks last night. Brent settled slightly higher by 0.34% to $85.18 per barrel, while the West Texas Intermediate (WTI) also climbed by 0.4% to $80.82 a barrel.

The commodities market seems to have cooled down this morning, as Brent slid by 0.43% to $84.81 a barrel and WTI edged down by 0.43% to $80.47 per barrel as well. Moreover, the gold futures edged down by 0.36% to $1,981.4 per Troy ounce.