Global Markets:
- Asian Stock Markets : Nikkei down -0.27%, Shanghai Composite down -0.43%, Hang Seng down -0.92% ASX down -0.13%
- Commodities : Gold at $4,086.74 (-0.21%), Silver at $50.728 (0.09%), Brent Oil at $63.88 (-0.79%), WTI Oil at $59.53 (-0.70%)
- Rates : US 10-year yield at 4.149, UK 10-year yield at 4.5770, Germany 10-year yield at 2.7166
News & Data:
- (CAD) Manufacturing Sales m/m 3.3% to 2.8% expected
- (CAD) Wholesale Sales m/m 0.6% to 0.0% expected
Markets Update:
Asian stocks traded mixed on Monday, mirroring the uneven cues from Wall Street on Friday, as investors reassessed the outlook for U.S. interest rates, tech sector valuations and overall economic momentum. Market sentiment remains cautious following recent comments from U.S. Federal Reserve officials and concerns that key economic data may be delayed indefinitely due to the prolonged government shutdown. Expectations for a rate cut next month have weakened, with the CME FedWatch Tool showing the probability slipping to 45.8 percent from nearly 67 percent a week earlier.
Australian shares were modestly lower, extending losses from the past week. The S&P/ASX 200 hovered near 8,600, pressured by weakness in financials and mixed movements across major sectors. Miners traded mixed, oil stocks were mostly higher, and tech names saw varied performance, with Appen surging while Block and Xero declined.
Japanese markets also moved lower, with the Nikkei 225 near the 50,000 mark amid losses in automakers, exporters and several major consumer names. However, select tech and financial stocks posted notable gains. Fresh data showed Japan’s GDP contracted 0.4 percent in the third quarter, adding to the cautious tone.
Elsewhere in the region, South Korea led gains, while China, Hong Kong and Singapore edged lower. Wall Street ended Friday mostly flat after recovering from early losses, while European markets closed broadly weaker. Crude oil prices rose sharply following reports of a drone strike on a Russian oil facility.
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