Global Markets:
- Asian Stock Markets : Nikkei up 0.18%, Shanghai Composite down 0.40%, Hang Seng down 0.79% ASX up 0.33%
- Commodities : Gold at $2906.35 (-0.33%), Silver at $31.85 (-1.08%), Brent Oil at $72.37 (0.25%), WTI Oil at $68.58 (0.18%)
- Rates : US 10-year yield at 4.283, UK 10-year yield at 4.5010, Germany 10-year yield at 2.4380
News & Data:
- (USD) New Home Sales 657K to 679K expected
- (USD) Crude Oil Inventories -2.3M to 2.5M expected
Markets Update:
Asia-Pacific markets were mixed on Thursday as key Wall Street indexes rose despite renewed tariff threats from U.S. President Donald Trump. Australia’s S&P/ASX 200 gained 0.35%, while Japan’s Nikkei 225 remained flat, and the Topix added 0.4%. South Korea’s Kospi dropped 0.82%, with the small-cap Kosdaq slipping 0.1%. Meanwhile, Hong Kong’s Hang Seng Index declined 0.18%, and China’s CSI 300 fell 0.2%.
Japanese retailer Seven & i Holdings saw its shares plummet over 10% after its founding family failed to secure financing for a proposed management buyout. The acquisition, valued at over 8 trillion yen ($53.69 billion), was reportedly abandoned, as per Yomiuri newspaper. This setback led to a sharp decline in investor confidence, further impacting the stock’s performance.
Trump announced plans to impose 25% tariffs on European Union imports, in addition to proceeding with previously postponed tariffs on Mexico and Canada. Goldman Sachs cautioned that markets might still be underestimating deep tariff risks. Kamakshya Trivedi, the bank’s head of global FX and EM strategy, warned that U.S. equities could decline further and the dollar could strengthen if Trump enforces broader tariffs.
Investors are closely watching Asian chip stocks after Nvidia reported strong fourth-quarter earnings, exceeding Wall Street expectations. The chipmaker also issued optimistic guidance, citing AI-driven growth. In the U.S., the S&P 500 ended slightly higher at 5,956.06, snapping a four-day losing streak. The Dow Jones dropped 188.04 points to 43,433.12, while the Nasdaq Composite edged up 0.26% to close at 19,075.26.
Upcoming Events:
- 01:30 PM GMT – USD Prelim GDP q/q
- 01:30 PM GMT – USD Unemployment Claims
