Open Oct 24

​In Asian Equity Markets indices jumped in early trade, as latest figures showed that South Korea’s economy continued to slow.Australia’s S&P/ASX 200 jumped 0.45%, while Japan’s Nikkei 225 rose 0.46%. In South Korea, the Kospi climbed 0.25%, with a slew of earning reports expected in the day. Chip giant SK Hynix posted third-quarter operating profit of 473 billion won ($404.68 million) — a 93% decline as compared to the previous year’s quarter, as memory chip prices continue to fall.  That, however, beat estimates of 418 billion won. ts shares jumped 2.45% after the earnings report.



In Currency Markets the British pound and the euro both stabilized against the U.S. dollar on Wednesday as European Union leaders delayed a decision on whether to grant Britain a three-month Brexit extension. Foreign exchange trading was generally quiet following a decline in the pound on Tuesday but both the pound and euro gained against the dollar late Wednesday. Against the dollar, the pound was last up 0.37% to $1.292. The euro was up 0.1% to $1.114. Against the euro, the pound was 0.28% stronger at 86.17 pence .



In Commodities Markets oil rose about 2.5% on Wednesday after government data showed a surprise draw in U.S. crude stocks and as the prospect of deeper output cuts by OPEC and its allies offered support. U.S. crude stocks fell 1.7 million barrels last week as refineries hiked crude runs by 429,000 barrels per day (bpd) and oil imports fell, the EIA said. Analysts had expected an increase of 2.2 million barrels.Brent crude futures settled at $61.17 a barrel, up $1.47, or 2.5%. West Texas Intermediate (WTI) crude futures rose $1.49, or 2.7%, to end at $55.97 a barrel.



In US Equity Markets stocks edged higher on Wednesday as investors shrugged off lackluster quarterly reports from industrial bellwethers Boeing Co and Caterpillar Inc, though a lower-than-expected revenue outlook from Texas Instruments Inc sent chip-makers’ shares lower. The S&P 500 rose 0.28%, to 3,004.52 and the Nasdaq Composite added 0.19%, to 8,119.79. Facebook shares advanced 2.1% after Chief Executive Mark Zuckerberg sought to reassure U.S. lawmakers about the company’s planned digital currency, Libra.



In Bond Markets U.S. Treasury yields recovered from session lows to close little changed on Wednesday in generally thin trading, as investors consolidated positions amid an overall lack of new catalysts to spur the market in either direction. Early in the session, U.S. yields were lower, in line with German Bunds and UK Gilts, as investors grew more concerned about persistent uncertainty surrounding Britain's long-delayed exit from the European Union. U.S. yields regained ground, however, and buying waned as the session wore on. U.S. 10-year note yields were steady at 1.769%.