Global Markets:
- Asian Stock Markets : Nikkei down 1.63%, Shanghai Composite down 1.07%, Hang Seng down 1.33% ASX down 0.41%
- Commodities : Gold at $2550.35 (0.29%), Silver at $28.9 (1.21%), Brent Oil at $69.80 (1.09%), WTI Oil at $66.3 (1.08%)
- Rates : US 10-year yield at 3.617, UK 10-year yield at 3.822, Germany 10-year yield at 2.148
News & Data:
- (USD) NFIB Small Business Index 91.2 vs 93.6 expected
Markets Update:
Asia-Pacific markets declined on Wednesday, with Japan’s Nikkei 225 leading the losses. The index dropped 1.6%, extending its losing streak to seven days, while the Topix fell 1.8%.
Investors in Asia evaluated economic data from Japan and South Korea. South Korea reported a drop in unemployment to 2.4% in August, the lowest since 1999. In Japan, the Reuters Tankan survey showed business confidence among large manufacturers hit a seven-month low in September, declining to plus 4 from plus 10 in August. Non-manufacturing sentiment also fell for the third consecutive month.
Bank of Japan board member Junko Nakagawa stated that the central bank would continue raising interest rates if economic conditions aligned with forecasts. She emphasized the need to carefully assess market changes following the July policy shift.
The Japanese yen strengthened to its highest level against the U.S. dollar since January, trading at 141.68. Meanwhile, investors also considered the U.S. presidential debate between Donald Trump and Kamala Harris.
Elsewhere, Taiwan Semiconductor Manufacturing Co. reported August revenues of 250.87 billion New Taiwan Dollars ($7.8 billion), up 33% year-on-year, though shares dipped slightly. South Korea’s Kospi fell 0.57%, while Kosdaq rose 0.57%. Australia’s S&P/ASX 200 lost 0.4%, and Hong Kong’s Hang Seng dropped 1.3%.
In the U.S., stocks fluctuated, with the S&P 500 up 0.45% and the Nasdaq rising 0.84%. The Dow Jones Industrial Average, however, dipped 0.23%.
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