Open Feb 13

In Asian Equity Markets the mainland Chinese markets were higher by the end of the morning session. The Shanghai composite recovered from earlier losses to see gains of 0.94 percent. Meanwhile, Hong Kong's Hang Seng index added 0.8 percent. Japan's Nikkei 225 extended gains from the previous session, rising 1.41 percent. The ASX 200 in Australia, on the other hand, shed earlier gains to fell 0.36 percent in afternoon trade. Oil company Beach Energy jumped 6 percent after it announced increased sales revenue and improved guidance in its half year report for the 2019 financial year.

In Currency Markets the U.S. dollar edged lower versus its peers on Wednesday, as rising hopes of a breakthrough in U.S.-China trade talks led investors to put money into the euro and Asian currencies. The dollar index, a gauge of its value was marginally lower at 96.65, having lost 0.35 percent on Tuesday. The kiwi dollar was the biggest gainer in the Asian session, rallying 1.6 percent on the dollar to $0.6837 after the Reserve Bank of New Zealand sounded less dovish on policy than markets had wagered on, forcing a round of heavy short covering.

In Commodities Markets oil prices rose more than 1 percent on Tuesday after OPEC figures showed it cut production sharply in January, and as lead member Saudi Arabia said it would reduce its output in March by an additional 500,000 barrels.  Brent crude futures gained 91 cents, or 1.5 percent, to settle at $62.42 a barrel. U.S. WTI crude oil futures rose 69 cents, or 1.3 percent, to settle at $53.10 a barrel. Oil prices edged up slightly post-settlement after data from the American Petroleum Institute (API), an industry group, showed U.S. crude oil stockpiles had unexpectedly fallen.

In US Equity Markets stocks rallied on Tuesday as investors were heartened by a tentative congressional spending deal to avoid another partial federal government shutdown and by optimism surrounding U.S.-China trade negotiations. The S&P 500 gained 1.29 percent, to 2,744.73 and the Nasdaq Composite added 1.46 percent, to 7,414.62. Amazon.com Inc provided the biggest lift to the S&P 500 and the Nasdaq, rising 3.0 percent after Walmart Inc ended its partnership with logistics firm Devi for a rival same-day grocery delivery service.

In Bond Markets Japanese government bond prices slipped on Wednesday as improving investor risk appetite in the broader markets curbed demand for safe-haven bonds. The 30-year yield rose 1.5 basis points to 0.615 percent, pulling further away from a two-year low of 0.575 percent plumbed last week. The 10-year yield edged up 1 basis point to minus 0.005 percent.