Global Markets:
- Asian Stock Markets : Nikkei up 1.17%, Shanghai Composite down 1.16%, Hang Seng down 2.01% ASX down 0.84%
- Commodities : Gold at $2791.35 (0.24%), Silver at $34.60 (0.34%), Brent Oil at $71.64 (0.26%), WTI Oil at $67.63 (0.29%)
- Rates : US 10-year yield at 4.251, UK 10-year yield at 4.317, Germany 10-year yield at 2.3340
News & Data:
- (USD) CB Consumer Confidence 108.7 vs 99.5 expected
- (USD) JOLTS Job Openings 7.44M vs 7.98M expected
Markets Update:
Asia-Pacific markets mostly declined on Wednesday, following a strong overnight session on Wall Street, where the Nasdaq Composite hit a record high due to gains in tech stocks.
In Australia, investors digested consumer price data showing a 2.8% year-on-year increase in headline inflation for the September quarter, the lowest level since early 2021. This was slightly below the 2.9% forecast by economists. Consequently, Australia’s S&P/ASX 200 index fell by 0.92%.
Meanwhile, China may authorize over 10 trillion yuan (about $1.4 trillion) in additional debt next week to stimulate its economy, as reported by Reuters. If Donald Trump wins the upcoming U.S. presidential election, the fiscal package could be further increased. Hong Kong’s Hang Seng Index dropped 1.86%, and China’s CSI 300 was down 1.11%.
Elsewhere in Asia, Japan’s Nikkei 225 rose by 1.10%, while the Topix advanced 0.88%, as the Bank of Japan commenced a two-day policy meeting, with analysts expecting the bank to maintain interest rates at 0.25%. South Korea’s Kospi declined 1.05%, and the small-cap Kosdaq was down 0.47%. In the U.S., the Nasdaq rose 0.78% to a new record high of 18,712.75, while the S&P 500 gained 0.16% to close at 5,832.92. However, the Dow Jones Industrial Average fell 154.52 points, or 0.36%, to finish at 42,233.05.
Upcoming Events:
- 12:15 PM GMT – USD ADP Non-Farm Employment Change
- 12:30 PM GMT – USD Advance GDP q/q
