Global Markets:
- Asian Stock Markets : Nikkei down 0.15%, Shanghai Composite down 0.47%, Hang Seng down 0.54% ASX up 0.16%
- Commodities : Gold at $2524.35 (-0.29%), Silver at $28.75 (-0.71%), Brent Oil at $77.30 (-0.29%), WTI Oil at $74.12 (-0.18%)
- Rates : US 10-year yield at 3.917, UK 10-year yield at 4.055, Germany 10-year yield at 2.3325
News & Data:
- (GBP) BRC Retail Sales Monitor y/y 0.8% vs 0.3% expected
Markets Update:
Asia-Pacific markets mostly declined on Tuesday as investors evaluated South Korea’s inflation data for August, which showed the lowest year-on-year increase since March 2021. The country’s consumer price index (CPI) rose by 2% compared to the previous year, down from July’s 2.6% and matching the expectations of a Reuters poll of economists. On a month-on-month basis, the CPI increased by 0.4%, slightly above the 0.3% forecasted.
In Japan, the Nikkei 225 dipped by 0.15% in afternoon trading, while the Topix index rose by 0.42%. South Korea’s Kospi index fell by 0.34%, and the smaller Kosdaq index dropped by 0.66%. Australia’s S&P/ASX 200 also edged down by 0.16%.
Mainland China’s CSI 300 saw a slight gain as it attempted to recover from a seven-month low reached on Monday, while Hong Kong’s Hang Seng index declined by 0.37%.
Meanwhile, U.S. markets were closed on Monday due to the Labor Day holiday. However, futures tied to the major U.S. indexes were down ahead of Tuesday’s session. The Dow Jones Industrial Average futures slipped by 57 points, or 0.14%, while S&P 500 futures decreased by 0.12%, and Nasdaq-100 futures fell by 0.26%.
Upcoming Events:
- 2:00 PM GMT – USD ISM Manufacturing PMI
- 2:00 PM GMT – USD ISM Manufacturing Prices
- 2:00 PM GMT – USD Construction Spending m/m
