CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open account
☰
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open account
✖

Mixed trading day in Asia markets eyeing Chinese PMI data

Article By: ,  Financial Analyst
March 30, 2012 5:00 AM

The MSCI Asia Pacific index was slightly higher going into the afternoon trading session across the Asian region. The recent cycle of positive Japanese economic news was slightly diminished by lower than expected manufacturing numbers but the Japanese Yen still managed to post gains against the US dollar.

Japanese industrial production slid 1.2% in February from a month earlier. All eyes will be on the HSBC China PMI reading due over the weekend which will signal any changes in the economic performance over the past month as inflation eases.

In commodities, oil continues to trend slightly lower as higher prices start to bite. Gold looks vulnerable around US$1660/oz but not as much as platinum which is back below the price of gold.

Veteran traders will know this is a continuation of very unusual trading between the two metals. The price of platinum has been twice that of gold in the past, at times even higher. Platinum prices have been dogged down by a perceived surplus of supply on the market.

Norilsk Nickel’s head of marketing suggests global demand will catch up with supply as production at current prices winds down.

Elsewhere in Asia, Myanmar is set to head to the ballot box next week, the first such election since the military rejected an opposition victory in 1990. The country is geopolitically significant because of its natural resource potential and domestic market which comprises around 64 million people.

Myanmar produces around 180, 000 barrels of oil equivalent per day, of which 90% is accounted for by gas. The country is one of the world’s oldest oil producers, exporting its first barrel in 1853. The oil and gas industry was nationalized after a socialist-leaning military regime seized power in 1962

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFD and Forex Trading are leveraged products and your capital is at risk. They may not be suitable for everyone. Please ensure you fully understand the risks involved by reading our full risk warning.

City Index is a trading name of StoneX Financial Ltd. Head and Registered Office: 1st Floor, Moor House, 120 London Wall, London, EC2Y 5ET. StoneX Financial Ltd is a company registered in England and Wales, number: 05616586. Authorised and regulated by the Financial Conduct Authority. FCA Register Number: 446717.

City Index is a trademark of StoneX Financial Ltd.

The information on this website is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement.

© City Index 2024