Opening Mar13

In Asian Equity Markets indices fell on Wednesday morning. Japan's Nikkei 225 fell 1.41 percent while the Topix index was down 1.19 percent. The Kospi index in South Korea declined 0.94 percent while Hong Kong's Hang Seng index fell 0.47 percent. Mainland Chinese shares were also lower. The Shanghai composite was down 0.6 percent while the Shenzhen composite fell 0.67 percent. In Australia, the ASX 200 fell 0.77 percent with most sectors lower. The energy sector fell 1.21 percent as oil stocks struggled for gains.

In Currency Markets the pound stabilized in early Asian trade on Wednesday after turbulence following the defeat of Prime Minister Theresa May’s European Union exit deal, but investors braced for more volatility ahead of additional Brexit proceedings. The British Parliament on Tuesday rejected May’s deal to quit the European Union for a second time, deepening the country’s political crisis days before the planned departure date on March 29. Sterling stood flat at $1.3064 and stuck to a narrow range. The currency had lost 0.65 percent the previous day.

In Commodities Markets oil prices edged higher on Wednesday, supported by planned cuts to Saudi exports and a reduced forecast for U.S crude output. International Brent crude oil futures were at $66.93 a barrel, or 0.4 percent, from their last close. Brent touched $67.39 a barrel on Monday, its highest since Feb. 25. U.S. WTI crude futures were at $57.17 per barrel, up 30 cents, or 0.5 percent, from their last settlement. U.S. crude oil production is expected to grow slower than previously expected in 2019 and average about 12.30 million barrels per day (bpd) the U.S. EIA said on Tuesday.

In US Equity Markets the S&P 500 and the Nasdaq rose on Tuesday after tame inflation data underscored the Federal Reserve’s dovish stance on interest rate hikes, but the Dow ended lower as Boeing’s shares sank for a second day after one of its planes crashed in Ethiopia. The Dow fell 0.37 percent, to 25,556.56, the S&P 500 gained 0.30 percent, to 2,791.71 and the Nasdaq Composite added 0.44 percent, to 7,591.03. All the major S&P sectors rose, led by gains in the technology sector, which was up 2.2 percent. The industrial sector reversed early losses to end up 0.9 percent.

In Bond Markets U.S. Treasury yields fell on Tuesday, pressured by weak inflation data for the world's largest economy, supporting expectations the Federal Reserve will hold interest rates steady this year, as well as worries about Britain's exit from the European Union. U.S. 10-year note yields fell to 2.60 percent, down from 2.64 percent late on Monday. Earlier in the session yields hit a 10-week low. The Treasury's auction on Tuesday saw a solid demand of the 10-year notes. The note was priced at 2.615 percent, lower than the 2.623 percent at the bid deadline.