Global Markets:
- Asian Stock Markets : Nikkei up 1.94%, Shanghai Composite up 1.04%, Hang Seng up 1.00% ASX up 0.30%
- Commodities : Gold at $4,070.34 (-1.63%), Silver at $47.828 (-1.56%), Brent Oil at $65.22 (0.03%), WTI Oil at $61.53 (0.05%)
- Rates : US 10-year yield at 4.032, UK 10-year yield at 4.4400, Germany 10-year yield at 2.6242
News & Data:
- (USD) Core CPI m/m 0.2% to 0.3% expected
Markets Update:
Asian stock markets are mostly higher on Monday, supported by strong gains on Wall Street last Friday and optimism that the U.S. Federal Reserve will cut interest rates again by year-end. Cooling U.S. inflation and easing trade tensions have strengthened expectations of another 50-basis-point rate cut, with traders awaiting the Fed’s policy decision later this week. Asian markets had also ended mostly higher on Friday.
Kathy Bostjancic, Chief Economist at Nationwide, noted that softer consumer inflation in September reinforced expectations of additional rate cuts as weakening labor market conditions outweigh concerns about slightly elevated inflation driven by tariffs.
In Australia, stocks are modestly higher, rebounding from the previous session. The S&P/ASX 200 is above 9,050, with gains across mining, financial, and technology names. Major miners are mixed, while tech stocks like Block, Zip, and Appen are posting strong gains. Big banks are trading higher as well. However, oil stocks are weak, and Nuix shares have slumped after its CEO announced his resignation. The Australian dollar trades at $0.653.
Japan’s Nikkei 225 has surged above 50,330 to a record high, driven by strength in index heavyweights, financials, and technology stocks. Major exporters including Sony and Canon are also advancing. Across the region, South Korea and Taiwan are notably higher, while other Asian markets show modest gains. New Zealand remains closed for Labor Day.
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