Global Markets:
- Asian Stock Markets : Nikkei up 0.01%, Shanghai Composite up 0.07%, Hang Seng up 0.77% ASX up 1.38%
- Commodities : Gold at $2725.35 (0.26%), Silver at $31.4 (0.18%), Brent Oil at $82.09 (0.29%), WTI Oil at $78.7 (0.03%)
- Rates : US 10-year yield at 4.654, UK 10-year yield at 4.7305, Germany 10-year yield at 2.5275
News & Data:
- (USD) Core CPI m/m 0.2% vs 0.3% expected
- (USD) CPI m/m 0.4% vs 0.4% expected
- (USD) CPI y/y 2.9% vs 2.9% expected
Markets Update:
Asia-Pacific markets mostly advanced Thursday, buoyed by strong U.S. market gains driven by a surprising decline in December’s core inflation and robust bank earnings. South Korea’s central bank held its benchmark rate steady at 3%, defying expectations of a 25-basis-point cut. Following the announcement, the Kospi rose 1.16%, and the Kosdaq climbed 1.65%, with the won trading at 1,456.91 per dollar.
Japan’s Nikkei 225 increased 0.27%, and the Topix edged up 0.09%. Meanwhile, Japan’s producer price index rose 3.8% in December, aligning with forecasts. Hong Kong’s Hang Seng gained 0.57%, while mainland China’s CSI 300 slipped 0.35%. Australia’s S&P/ASX 200 climbed 1.38%, as the nation’s unemployment rate ticked up to 4% in December, meeting estimates.
In the U.S., stocks had their best day since November 6. The Nasdaq Composite surged 2.45%, the S&P 500 added 1.83%, and the Dow Jones fell slightly by 1.65%. The benchmark 10-year Treasury yield dropped 13 basis points to 4.65%, following the CPI report.
Oil prices rose amid news of an Israel-Hamas ceasefire and hostage deal. Brent crude increased 3.22%, while WTI gained 0.3%, settling at $80.28 per barrel.
Upcoming Events:
- 01:30 PM GMT – USD Core Retail Sales m/m
- 01:30 PM GMT – USD Retail Sales m/m
- 01:30 PM GMT – USD Unemployment Claims
