Markets

focus on Trump remarks, dollar, Jackson Hole

In Asia, futures tipped a lower open for Japanese equities. Nikkei futures traded in Chicago were off 0.54 percent at 19,330 and Osaka futures were off 0.44 percent at 19,350. The benchmark Nikkei 225 index closed at 19,434.64 in the previous session.

Down Under, SPI futures were 0.58 percent lower at 5,704 compared to the S&P/ASX 200’s Wednesday close of 5,737.159.

Markets in Hong Kong are set to re-open after being shut on Wednesday due to typhoon Hato.

On the energy front, oil gained more than one percent overnight after a fall in U.S. crude stockpiles for an eighth consecutive week, according to Reuters. Brent crude futures tacked on 70 cents to settle at $52.57 a barrel and U.S. crude futures added 58 cents to settle at $48.41.

In corporate news, Samsung Electronics launched its Galaxy Note 8 model in New York on Wednesday. The company was forced to recall its Galaxy Note 7 model last year after a battery problem led to several devices overheating and catching fire.

With little data due to be released during the Asian trading session, markets are likely to return their focus on a central banking conference in Jackson Hole beginning Thursday U.S. time.

“A sense of anticipation can be felt across the financial markets ahead of the Jackson Hole Symposium later this week,” said FXTM research analyst Lukman Otunuga in a Wednesday evening note.

While European Central Bank President Mario Draghi is not expected to deliver new policy messaging, the possibility of “verbal intervention to weaken the euro” should not be ruled out, Otunuga added.

The common currency traded at $1.1810 at 6:59 a.m. HK/SIN.

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