Global Markets:
- Asian Stock Markets : Nikkei up 3.43%, Shanghai Composite up 0.22%, Hang Seng up 1.18% ASX up 0.98%
- Commodities : Gold at $2545.35 (0.14%), Silver at $29.19 (0.61%), Brent Oil at $71.20 (0.89%), WTI Oil at $67.8 (0.78%)
- Rates : US 10-year yield at 3.667, UK 10-year yield at 3.762, Germany 10-year yield at 2.098
News & Data:
- (USD) Core CPI m/m 0.3% vs 0.2% expected
- (USD) CPI m/m 0.2% vs 0.2% expected
- (USD) CPI y/y 2.5% vs 2.5% expected
Markets Update:
.Asia-Pacific markets opened higher on Thursday, following Wall Street’s tech-driven rally. Japan’s Nikkei 225 surged 3.41%, and Taiwan’s Weighted Index rose 3%. Semiconductor-related stocks led the charge, with Tokyo Electron up 4.8%, Advantest up 9%, and Renesas Electronics climbing 3.47%. SoftBank Group, which holds a stake in chip designer Arm, jumped 8.4%.
In South Korea, the Kospi rose 1.67% while the Kosdaq gained 3%. Major chipmakers SK Hynix and Samsung Electronics soared over 8% and 1.85%, respectively. Taiwan Semiconductor Manufacturing Company advanced 5.13%, and Hon Hai Precision Industry (Foxconn) gained 4.13%.These gains came after Nvidia CEO Jensen Huang highlighted strong demand for AI chips. Shares of Seven & i Holdings surged 7.3% after Bloomberg reported that Alimentation Couche-Tard may increase its bid for the Japanese retailer. However, Couche-Tard has yet to finalize its decision.
On the economic front, Japan’s producer price index rose 2.5% year-on-year in August, slightly below expectations. Meanwhile, Hong Kong’s producer price index and India’s August consumer price index are expected later today.
Australia’s S&P/ASX 200 rose 0.9%, and Hong Kong’s Hang Seng index edged up 1%. Overnight, the S&P 500 gained 1.07%, the Nasdaq rose 2.17%, and the Dow Jones inched up 0.31%. Investors are now eyeing the U.S. producer price index release.
Upcoming Events:
- 12:30 PM GMT – USD Core PPI m/m
- 12:30 PM GMT – USD PPI m/m
- 12:30 PM GMT – USD Unemployment Claims
