OPENING CALL: The Australian share market is expected to open higher. The SPI200 futures contract expected to open up 8 points.
Alibaba reached a new sales milestone during China’s Singles Day shopping festival, as the e-commerce giant sold 268.4 billion yuan ($38.3 billion) worth of goods, up 26% from its previous record of 213.5 billion yuan, or about $30.8 billion, set last year.
California Gov. Gavin Newsom questioned PG&E Corp.’s $11 billion settlement proposal for insurance losses tied to wildfires and said it could derail the utility’s bankruptcy exit strategy.
Each Market in Focus
December gold on Comex was 50 cents, or less than 0.1%, higher at $1,463.40 an ounce, after the yellow metal marked its biggest weekly slide, off 3.2%
The dollar was lower against haven currencies, the Japanese yen and Swiss franc– consistent with selling in global stocks as the pendulum swung back to worries about U.S.-China trade relations.
The British pound, meanwhile, was recently up 0.6% against the dollar after the Brexit party said it won’t contest Conservative-held seats in the upcoming U.K. election. The WSJ Dollar Index was recently down 0.2% at 91.01.
European indices closed mostly in the red as a higher pound hit the FTSE 100 and U.S.-China trade jitters resurfaced.
The Stoxx Europe dropped 0.02%, or 0.08 points to 405.34 and the DAX falls 0.2%, though the CAC-40 edges 0.07% higher.
Hong Kong’s benchmark Hang Seng benchmark closed down 2.6%, the fourth-biggest drop of the year, after police fired gunshots at protesters, and demonstrations across the city forced schools and offices to close early.
Shanghai Composite fell 1.8%. Consumer inflation data out over the weekend showed prices soared in October to the highest level in more than seven years, fueled by a continued surge in pork prices.
Elsewhere in Asia, Japan’s Nikkei 225 benchmark lost 0.3% and South Korea’s Kospi declined 0.6%.
Indian shares, however, outperformed their Asian peers as banks rallied and falling oil prices supported sentiment amid volatile trading.
The post Australian market expected to open higher 12/11/19 appeared first on FP Markets.