Global Markets:
- Asian Stock Markets : Nikkei up 0.99%, Shanghai Composite down -1.18%, Hang Seng down -1.02% ASX up 0.45%
- Commodities : Gold at $3,781.47 (0.17%), Silver at $44.308 (0.21%), Brent Oil at $66.24 (-0.50%), WTI Oil at $61.99 (-0.47%)
- Rates : US 10-year yield at 4.145, UK 10-year yield at 4.7110, Germany 10-year yield at 2.7481
News & Data:
- (EURz Consumer confidence -15 to -15 expected
Markets Update:
Asian stock markets traded mixed on Tuesday, tracking the broadly positive cues from Wall Street overnight. Optimism over potential U.S. Federal Reserve rate cuts supported sentiment, though lingering geopolitical tensions in Europe and the Middle East limited gains. Markets across Asia had also ended mixed on Monday.
After reducing rates by a quarter point last week, the Fed is expected to deliver similar cuts at its October and December meetings. Investors are awaiting the release of the Fed’s preferred consumer price inflation data later in the day, while remarks from Fed officials, including Chair Jerome Powell, could influence the outlook.
In Australia, equities advanced for a third straight session. The benchmark S&P/ASX 200 rose 39.70 points or 0.45 percent to 8,850.60, supported by mining, technology, and banking stocks. The All Ordinaries gained 38.80 points or 0.43 percent.
Among miners, BHP and Rio Tinto edged up 0.5 percent each, while Mineral Resources climbed 2 percent. Gold producers also outperformed, led by Resolute Mining’s nearly 5 percent surge. Banks traded higher across the board. Meanwhile, Myer shares tumbled almost 28 percent after reporting weaker net profit, while Telix Pharmaceuticals soared over 8 percent on regulatory approval news.
Elsewhere, Taiwan gained 1.2 percent, while Singapore, South Korea, and Malaysia posted modest advances. However, China, Hong Kong, New Zealand, and Indonesia declined. Japanese markets were closed for a holiday.
On Wall Street, major indices closed at record highs, led by gains in technology stocks.
Upcoming Events:
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