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China data casts pall over global recovery, UK prices spike

By Huw Jones LONDON (Reuters) - Global stocks eased on Wednesday as weaker-than-expected Chinese data cast a pall over economic recovery and a spike in UK prices fueled the...
China data casts pall over global recovery, UK prices spike © Reuters. FILE PHOTO: A man wearing a protective face mask walks past a stock quotation board outside a brokerage, amid the coronavirus disease (COVID-19) outbreak, in Tokyo, Japan November 2, 2020. REUTERS/Issei Kato

By Huw Jones

LONDON (Reuters) - Global stocks eased on Wednesday as weaker-than-expected Chinese data cast a pall over economic recovery and a spike in UK prices fueled the intense debate over inflation's staying power.

The STOXX index of 600 European companies eased 0.16%, slipping further away from its lifetime high of mid-August. The MSCI All Country World Index was down 0.18%.

"The weak China retail sales data is a shocker and shows that unless you get the Delta variant under control, any recovery is going to be difficult," said Michael Hewson, chief markets analyst at CMC Markets.

"There is a slow realisation that we have seen peak economic growth perhaps, certainly the summer rebound is done," Hewson said.

A burst of data out of China showed growth in its factory and retail sectors continued to falter in August with output and sales growth hitting one-year lows as fresh coronavirus outbreaks and supply disruptions threatened its economic recovery.

Meanwhile, UK inflation hit a more than nine-year high last month after the biggest monthly jump in the annual rate in at least 24 years, though largely due to a one-off boost that analysts said was likely to be temporary.

The UK data contrasted with figures from the United States on Tuesday which showed that Consumer Price Index (CPI) in August posted its smallest gain in six months, suggesting inflation has probably peaked, aligning with Fed Chair Jerome Powell's long-held belief that high inflation is transitory.

Lower inflation suggests the Fed will be under less pressure to begin trimming its vast asset purchases, and, as a result, the yield on the benchmark 10-year note fell as low as 1.263%, its lowest since Aug. 24.

Yields recovered slightly to 1.2820%, while the dollar eased 0.124%.

"Inflation is not something we think will go away soon. While the base case is for inflation to moderate over a two-three year horizon, we are not betting on sharp falls in inflation," said Valentijn van Nieuwenhuijzen, chief investment officer at Dutch asset manager NN (NASDAQ:NNBR) IP.

"The Covid impact on supply chains has been enormous so it would not be surprising to see some stickiness in inflation."

Graphic: UK inflation surges - https://fingfx.thomsonreuters.com/gfx/mkt/gdpzyqqojvw/morningbid1510.png

CHINA RETREAT

MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.8%, while Tokyo's Nikkei shed 0.5%, moving off a more than 31-year closing-high the day before.

After the Chinese data, Chinese blue chips were down 1%.

"This is not a dip, it is a falling trend that will last at least until the end of this year," said Iris Pang, chief China economist at ING said of the Chinese data.

Pang said she anticipated a 0.5 percentage point cut in Chinese banks' reserve requirement ratio (RRR) in October, and said more fiscal support was needed for small- and medium-sized companies.

Shares in property developer Evergrande, which is scrambling to raise funds to pay its many lenders and suppliers, fell for the third consecutive day on Wednesday, losing as much as 5% to their lowest since January 2014.

Hong Kong's benchmark Hang Seng index shed 1.8%, as casino stocks plunged after Macau began a public consultation which investors fear will lead to tighter regulations in the world's largest gambling hub.

An index tracking gaming stocks fell 22%, while Wynn Macau (OTC:WYNMF) fell as much as 28% to a record low.

Oil prices gained on a larger than expected drawdown in crude oil stocks in the United States, with U.S. crude gaining 1% to $71.19 a barrel and Brent crude rising 0.9% to $74.31 per barrel. [O/R]

Spot gold was little changed, trading at $1,801 per ounce, having fallen from a one week peak of $1,808.50 on which it hit on prospects for lower interest rates. [GOL/]

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27-09-2021 21:11:17 (UTC+7)

EUR/USD

1.1701

-0.0014 (-0.12%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (5)

Sell (2)

EUR/USD

1.1701

-0.0014 (-0.12%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (5)

Sell (2)

GBP/USD

1.3712

+0.0029 (+0.22%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (4)

Sell (3)

USD/JPY

110.86

+0.14 (+0.12%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (5)

Sell (2)

AUD/USD

0.7280

+0.0022 (+0.30%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (8)

Sell (0)

USD/CAD

1.2650

-0.0003 (-0.02%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (4)

Sell (2)

EUR/JPY

129.71

+0.01 (+0.01%)

Summary

Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (3)

Sell (3)

EUR/CHF

1.0835

+0.0013 (+0.12%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (9)

Gold Futures

1,755.35

+3.65 (+0.21%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (1)

Sell (6)

Silver Futures

22.755

+0.330 (+1.47%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (7)

Copper Futures

4.2915

+0.0060 (+0.14%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (5)

Crude Oil WTI Futures

75.25

+1.27 (+1.72%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (8)

Brent Oil Futures

78.64

+1.41 (+1.83%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (7)

Natural Gas Futures

5.538

+0.338 (+6.50%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (8)

Sell (0)

US Coffee C Futures

193.65

-0.70 (-0.36%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (6)

Euro Stoxx 50

4,167.05

+8.54 (+0.21%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (1)

S&P 500

4,449.00

-6.48 (-0.15%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (10)

Sell (0)

DAX

15,587.85

+56.10 (+0.36%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (1)

FTSE 100

7,057.25

+5.77 (+0.08%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (5)

Hang Seng

24,208.78

+16.62 (+0.07%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (8)

Sell (0)

US Small Cap 2000

2,275.35

+21.47 (+0.95%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (8)

Sell (1)

IBEX 35

8,998.50

+125.40 (+1.41%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (3)

Sell (5)

BASF SE NA O.N.

64.810

+1.110 (+1.74%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (2)

Sell (4)

Bayer AG NA

47.34

+0.86 (+1.85%)

Summary

Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (5)

Sell (0)

Allianz SE VNA O.N.

195.96

+3.62 (+1.88%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (3)

Sell (2)

Adidas AG

278.85

-2.72 (-0.97%)

Summary

Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (4)

Sell (2)

Deutsche Lufthansa AG

6.468

+0.235 (+3.77%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Siemens AG Class N

147.11

-1.00 (-0.68%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (1)

Sell (6)

Deutsche Bank AG

11.065

+0.230 (+2.12%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (6)

 EUR/USD1.1701Buy
 GBP/USD1.3712Buy
 USD/JPY110.86Neutral
 AUD/USD0.7280↑ Buy
 USD/CAD1.2650Neutral
 EUR/JPY129.71Sell
 EUR/CHF1.0835↑ Sell
 Gold1,755.35↑ Sell
 Silver22.755Sell
 Copper4.2915Neutral
 Crude Oil WTI75.25↑ Sell
 Brent Oil78.64↑ Sell
 Natural Gas5.538↑ Buy
 US Coffee C193.65Sell
 Euro Stoxx 504,167.05↑ Buy
 S&P 5004,449.00↑ Buy
 DAX15,587.85↑ Buy
 FTSE 1007,057.25Neutral
 Hang Seng24,208.78↑ Buy
 Small Cap 20002,275.35↑ Buy
 IBEX 358,998.50Neutral
 BASF64.810Neutral
 Bayer47.34Buy
 Allianz195.96Buy
 Adidas278.85Buy
 Lufthansa6.468↑ Buy
 Siemens AG147.11↑ Sell
 Deutsche Bank AG11.065Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank5,665/ 5,715
(5,665/ 5,715) # 900
SJC HCM5,635/ 5,700
(0/ 0) # 885
SJC Hanoi5,635/ 5,702
(0/ 0) # 887
SJC Danang5,635/ 5,702
(0/ 0) # 887
SJC Nhatrang5,635/ 5,702
(0/ 0) # 887
SJC Cantho5,635/ 5,702
(0/ 0) # 887
Cập nhật 27-09-2021 21:11:19
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,755.83+6.330.36%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-IV2204022480
RON 95-II,III2194022370
E5 RON 92-II2071021120
DO 0.05S1658016910
DO 0,001S-V1693017260
Dầu hỏa1564015950
ↂ Giá dầu thô thế giới
WTI$75.41+0.280.38%
Brent$79.65+0.210.26%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.630,0022.860,00
EUR25.993,7727.346,60
GBP30.324,2231.591,18
JPY200,45212,05
KRW16,7520,39
Cập nhật lúc 18:54:42 27/09/2021
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