Global Markets:
- Asian Stock Markets : Nikkei up 0.02%, Shanghai Composite up 1.13%, Hang Seng up 0.53% ASX down -0.17%
- Commodities : Gold at $4,177.55 (0.18%), Silver at $51.260 (0.21%), Brent Oil at $62.45 (-0.43%), WTI Oil at $58.61 (-0.53%)
- Rates : US 10-year yield at 4.035, UK 10-year yield at 4.5400, Germany 10-year yield at 2.6970
News & Data:
- (EUR) German ifo Business Climate 88.1 to 88.6 expected
Markets Update:
Asian stock markets were mixed on Tuesday, mirroring the broadly positive cues from Wall Street and rising expectations of a U.S. Federal Reserve rate cut next month. Optimism grew after recent dovish comments from Fed officials, though concerns about high market valuations continue to weigh on sentiment. Fed Governor Christopher Waller signaled support for another quarter-point cut in December due to labor market concerns, echoing remarks from New York Fed President John Williams, who noted room for further adjustments. The CME FedWatch Tool now shows an 80.9 percent probability of a December cut, sharply higher than last week.
In Australia, the S&P/ASX 200 traded slightly higher, supported by gains in major mining stocks and a mixed performance across other sectors. Rio Tinto led miners with strong gains, while gold producers like Newmont and Resolute Mining advanced sharply. Tech stocks were mixed, with Block declining and Appen rising. Banks were mostly lower, while individual movers included Web Travel, up nearly 10 percent on strong results, and Ramsay Health Care, which gained on improved earnings guidance.
Japan’s Nikkei 225 also moved higher in post-holiday trade, buoyed by strength in automakers and technology stocks such as Tokyo Electron and Advantest. Major exporters like Panasonic and Mitsubishi Electric advanced, though SoftBank declined.
Elsewhere in Asia, China, Hong Kong, South Korea, and Taiwan traded higher, while New Zealand, Singapore, Malaysia, and Indonesia were modestly lower. Meanwhile, Wall Street extended Friday’s rebound, led by a strong surge in the Nasdaq, while European markets ended mixed and crude oil prices rose.
Upcoming Events:
- 01:30 PM GMT – USD Core PPI m/m
- 01:30 PM GMT – USD PPI m/m
- 01:30 PM GMT – USD Core Retail Sales m/m
- 01:30 PM GMT – USD Retail Sales m/m
