Thursday, 23 July 2015

Asian Market Update 23 JULY 2015

Asian stocks mostly traded on the back foot early Thursday, as investors digested a flurry of economic data amid dampened sentiment due to a weaker finish on Wall Street overnight. The spotlight remains on the commodity space; spot gold edged up modestly to USD 1,092.90 an ounce in early Asian trade after chalking up its 10th straight day of losses, in the longest losing streak for the precious metal in almost 20 years. In the energy space, U.S. crude fell below the USD 50 level after US government data showed crude inventories up last week.

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