During today's Turkish central bank meeting, the market anticipated a rate cut between 200-300 pips.
Asian stock markets head south amid leaping revenues of government bonds
On Wednesday, the stock markets of the Asia-Pacific region slumped following the abrupt dive in American stock indices on the eve of the ascend in the yield of 10-year American Treasuries to more than 3% for the first time since 2014, as the Financial Times informed.
On Wednesday, during Asian trade, the revenue of 10-year American government bonds held about 3%, while the yield of similar-maturing Japanese securities tacked on by 1 basis point, getting to 0.054%.
The consolidated stock index of the region MSCI Asia Pacific went down by about 0.5%.
The Japanese Nikkei 225 dropped by 0.3%, the South Korean KOSPI lost by 1%.
The Hong Kong indicator Hang Seng went down 1%, Chinese Shanghai Composite slumped 0.4%. Additionally, Taiwan's Taiex went down by 0.2%.
Australian exchanges are unavailable on Wednesday due to the state holiday.
Meanwhile, the price of aluminum keeps diving for the fifth consecutive session. Apparently, such a long a fall has not been observed for about a year. During electronic trading on LME, aluminum for delivery in three months dived by 0.6%, to $ 2213 per ton. The decline in the previous two sessions accounted for 9.8% and it turned to be the most significant sink since June 1988.
The market value of oil and gas companies in Asia is going down after the fall in crude prices on Tuesday by more than 1.1%.
Quotes of shares of the Japanese steelmaking company Kobe Steel inched down by 4.7%. Kobe Steel reported that it is under investigation in Japan because of falsification of data on the quality of products.
The price of securities of the Japanese pharmaceutical company Takeda Pharmaceutical slumped by 9% due to a new, increased offer to buy Shire, which the Irish company is willing to accept.
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