Asia Morning Nov 24

Once again, market sentiment was boosted by vaccine news. Drugmaker AstraZeneca said late-stage trials of its COVID-19 vaccine are "highly effective" in preventing disease. Meanwhile, the Markit U.S. Manufacturing Purchasing Managers' Index (preliminary reading) rose to 56.7 in November (53.0 expected) and Services PMI was up to 57.7 (55.0 expected).

Energy (+7.09%), Automobiles & Components (+2.83%) and Banks (+2.5%) sectors performed the best. Energy companies such as Occidental Petroleum (OXY +16.83%), Diamondback Energy (FANG +11.67%) and Apache (APA +12.41%) were top gainers.

Boeing (BA +5.89%), Gap (GPS +6.93%) and General Motors (GM +4.02%) also advanced.  

Approximately 89% (90% in the prior session) of stocks in the S&P 500 Index were trading above their 200-day moving average and 79% (81% in the prior session) were trading above their 20-day moving average.

European stocks lacked momentum. The Stoxx Europe 600 eased 0.20%, Germany's DAX edged down 0.08%, France's CAC 40 dipped 0.07%, and the U.K.'s FTSE 100 was down 0.28%.

U.S. Treasury prices declined as investors' risk appetite grew. The benchmark U.S. 10-year Treasury yield climbed to 0.854% from 0.828% Friday.

Spot gold slumped $35 (-1.87%) to $1,836 an ounce.

U.S. WTI crude futures (January) gained $0.45 (+1.06%) to $42.87 a barrel.

The ICE Dollar Index marked a day-low of 92.01, the lowest level since April 2018, before bouncing to close at 92.52, up 0.18% on day. 

USD/JPY regained the 104.00 level as it jumped 0.66% to 104.53.

USD/CHF climbed 0.16% to 0.9127.

EUR/USD was down for a second day declining 0.14% to 1.1840. The Markit Eurozone Manufacturing PMI (preliminary reading) dropped to 53.6 in November (53.2 expected)

GBP/USD broke above the 1.3300 level as it gained 0.21% to 1.3314. The Markit U.S. Manufacturing PMI (preliminary reading) advanced to 55.2 in November (50.5 expected).

AUD/USD dropped 0.24% to 0.7286.