Global Markets:
- Asian Stock Markets : Nikkei down 0.23%, Shanghai Composite down 0.03%, Hang Seng down 0.7% ASX down 0.71%
- Commodities : Gold at $3359.35 (0.49%), Silver at $36.08 (0.19%), Brent Oil at $67.18 (0.19%), WTI Oil at $65.58 (0.13%)
- Rates : US 10-year yield at 4.255, UK 10-year yield at 4.443, Germany 10-year yield at 2.567
News & Data:
- (USD) ISM Manufacturing PMI 49.0 to 48.8 expected
- (USD) JOLTS Job Openings 7.77M to 7.32M expected
Markets Update:
Singapore stocks hit a record high on Wednesday, even as Asia-Pacific markets saw mixed trading as investors assessed fresh remarks from U.S. Federal Reserve Chair Jerome Powell. Powell said Tuesday that the Fed would have already lowered interest rates if not for U.S. President Donald Trump’s tariff policies, which have complicated the economic outlook.
Singapore’s benchmark index gained 0.4% to reach a record 4,005.39 points in morning trade, according to LSEG data. Elsewhere in the region, Japan’s Nikkei 225 fell 1.32% while the Topix shed 0.64%. South Korea’s Kospi slipped 0.42%, and the Kosdaq was little changed. Australia’s S&P/ASX 200 edged up 0.49%.
Hong Kong’s Hang Seng Index rose 0.73%, while China’s CSI 300 remained flat.
In the U.S., stock futures were steady during early Asian trading hours. This came after a muted start to the second half of the year, with investors showing less enthusiasm for technology shares.
Overnight on Wall Street, the major indexes closed mixed. The S&P 500 dipped 0.11% to 6,198.01, and the Nasdaq Composite dropped 0.82% to 20,202.89. However, the Dow Jones Industrial Average stood out, climbing 400.17 points, or 0.91%, to finish at 44,494.94.
Upcoming Events:
- 12:15 PM GMT – USD ADP Non-Farm Employment Change
