Asian markets spent another session fretting over US debt limit talks and developments. In the thin ‘twilight zone’ between US regular trading hours
Asian
markets spent another session fretting over US debt limit talks and
developments. In the thin ‘twilight zone’ between US regular
trading hours close and Japan’s open US President Biden and House
Speaker McCarthy once again held talks. Comments from Biden and
McCarthy at the meeting’s conclusions were optimistic, saying
progress was made and default is ‘off the table’ but there was
very little of substance and no sign of agreement. Staff level talks
recommenced a little after the leaders’ meeting concluded.
There
wasn’t a lot else of news nor data. We did get flash PMIs from
Australia and Japan. Both the manufacturing and services PMIs from
Japan showed improvement.
Across
major FX it ranges were small only and net change on the session also
small. USD/JPY added to its overnight gains. Gold dropped away a
little.
Asian
equity markets:
-
Japan’s
Nikkei 225 +0.6% -
China’s
Shanghai Composite -0.7% -
Hong
Kong’s Hang Seng -0.2% -
South
Korea’s KOSPI +0.7% -
Australia’s
S&P/ASX 200 +0.2%
USD/JPY up a touch further after its Monday rally:
www.forexlive.com