Asian Daily Market Review 9.12.19

Asian markets are mostly higher on Monday morning, lifted by optimism following the strong U.S. jobs number from last Friday. Chinese markets are edging lower however after November exports fell more than expected. It’s the fourth consecutive month of falling exports for China, and investors are worried the trade war is finally taking its toll.

Mainland China’s Shanghai Composite was trading 0.1% lower, and the smaller-cap Shenzhen Composite is matching that with a 0.1% drop as well. Over in Hong Kong, the Hang Seng is also lower by 0.1%. Losses have been somewhat muted by rising imports to China, which could mean demand is recovering.

In Australia, the S&P/ASX 200 has a gain of 0.2%, with the modest upside coming on positive cues from the U.S. Major miners are broadly higher, with BHP and Rio Tinto both rising 1.4%, while Fortescue Metals is adding 1.2%. Oil stocks are also higher, with Santos 2.1% higher, Oil Search jumping 2.6%, and Woodside Petroleum gaining 2.1%.

Japan’s Nikkei has a gain of 0.3%, although the Yen is continuing in its strength against the U.S. dollar, despite the solid jobs number from the U.S. last Friday.

In South Korea, the Kospi is leading the region as it is up by 0.4%, while the Taiex in Taiwan is also rising 0.4% to share the regional lead with South Korea.

Southeast Asian markets are mixed as the Straits Times Index in Singapore has a slight loss of less than 0.1%, Malaysia’s KLCI is down 0.3%, but the Jakarta Composite in Indonesia is trading 0.3% higher.

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