Morning Briefing: Markets lower on China’s action on Australian casino workers

Morning Briefing: Markets lower on China’s action on Australian casino workers

Morning Briefing: Markets lower on China’s action on Australian casino workers Markets lower on China’s action on Australian casino workers
World markets have started the week lower, led by a drop in Asian indexes following news that China has detained employees of an Australian casino operator.

The country’s justice department told CNBC that the detention of the 18 employees is for “suspected involvement in gambling crimes.”

Asian indexes closed mostly lower although there were gains for Japan’s Nikkei as the yen weakened; and for South Korea as Samsung saw a market bounceback from its Galaxy Note 7 crisis.

In Europe, weaker Asian bourses and a stronger US dollar have hit equities. Markets are also awaiting earnings and the ECB’s meeting later in the week.

Wall Street and Toronto are expected to open flat.
 
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North America (previous session)
US Dow Jones 18,138.38 (+0.22 per cent) +0.08 per cent +5.36 per cent
TSX Composite 14,584.99 (-0.40 per cent) +0.93 per cent +5.40 per cent
 
Europe (at 4.30am ET)
UK FTSE 6,968.76 (-0.64 per cent) +3.85 per cent +9.26 per cent
German DAX 10,527.25 (-0.50 per cent) +2.44 per cent +4.18 per cent
 
Asia (at close)
China CSI 300 3,277.88 (-0.85 per cent) +1.21 per cent -7.25 per cent
Japan Nikkei 16,900.12 (+0.26 per cent) +2.31 per cent -7.61 per cent
 
Other Data (at 2.30am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
51.94
(-0.02 per cent)
50.28
(-0.20 per cent)
1253.30
(-0.18 per cent)
U$0.7597
 
Aus. Dollar
U$0.7602

 
Oil weakens as Iran plans 4 million-barrel output
Oil prices weakened Monday as it emerged that Iran plans to increase its output to around 4 million barrels per day, up from its current 3.89 million bpd.

The news comes as OPEC members along with Russia are set to formally agree a production cap in a bid to stabilize markets. The Iranian increase could stymie the deal.

Iran’s oil minister said Monday that the country’s output needs to be at its pre-sanction levels – which were 4.085 million bpd.