Market Drivers – Asian Session 04-11-2021

The Asian session was relatively quiet. The Nikkei index rose 0.93% to close at 2,9794.37 points, while the broader Topix index jumped 1.18% to 2055.56 points.

Heavy losses led the shipping sector to fall 6.25%, becoming the worst-performing among the Tokyo Stock Exchange’s 33 sub-sectors.

Brent crude contracts, the international standard, fell $2.73, or 3.2 percent, to settle at $81.99 a barrel.

US West Texas Intermediate crude contracts closed $3.05, or 3.6 percent, at $80.86 a barrel.

Gold futures rose 0.68% to $1,775.95 by 11:44 PM ET. The dollar, which usually tends inversely to gold, rose on Thursday.

“We expect a 6-3 BoE vote to hike Bank Rate 15bp on Thursday. However, we do not think that decision is a foregone conclusion.”

BofA