Corrective action seen in Copper, equities in focus

COMEX Copper futures saw some selling pressure but a sharp fall in inventories in recent weeks capped the losses. Equities were largely stable as investors monitored the second day of high-stakes US-China trade negotiations. In Asia, Chinese Shanghai Composite index eased 0.44%, giving up almost similar gains recorded in last session. Hong Kong's Hang Seng index eased marginally. Japanese NIKEEI index added 0.32% amid a weak Japanese Yen. European indices eased marginally today. The US stocks saw choppy trading. The tech-heavy Nasdaq managed to hit a new three-month closing high. COMEX Copper futures are currently quoting at $4.89 per pound, down 0.57% on the day after falling around 1% in intraday moves. On the MCX, Copper is currently trading at Rs 881.50 per kg, down 0.12% on the day.

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