Global Markets:
- Asian Stock Markets : Nikkei up 1.61%, Shanghai Composite down -0.09%, Hang Seng down -0.98% ASX up 0.13%
- Commodities : Gold at $4,255.30 (0.82%), Silver at $59.603 (1.49%), Brent Oil at $62.45 (0.00%), WTI Oil at $58.64(0.00%)
- Rates : US 10-year yield at 4.081, UK 10-year yield at 4.4710, Germany 10-year yield at 2.7515
News & Data:
- (EUR) Core CPI Flash Estimate y/y 2.4% to 2.4% expected
Markets Update:
Asian stocks traded mostly higher on Wednesday, mirroring the positive cues from Wall Street as technology shares rallied alongside a rebound in Bitcoin. Investor sentiment also remained supported by expectations that the US Federal Reserve will cut interest rates next week. Markets in Asia closed largely higher in the previous session.
Attention now shifts to upcoming US economic data, including private sector employment figures from ADP, which could influence the Fed’s policy outlook. Additional reports on services activity, income, spending, and consumer sentiment are also awaited.
Australian shares posted modest gains, with the S&P/ASX 200 hovering below 8,600. Advances in financials and energy were partly offset by declines in gold miners, while technology stocks showed a mixed performance. Meanwhile, Australia’s GDP grew 0.4 percent in the third quarter, missing forecasts, though annual growth improved slightly to 2.1 percent.
Japanese stocks continued their upward momentum, with the Nikkei 225 moving above 49,850 on strong tech gains, despite weakness in automakers and financials. Major tech names such as Advantest and Screen Holdings surged, while some exporters and consumer stocks declined.
Elsewhere in Asia, markets were mostly positive, led by South Korea, while China and Hong Kong traded slightly lower.
On Wall Street, stocks ended higher on Tuesday after early fluctuations, with solid gains for the Nasdaq and Dow. European markets were mixed, while crude oil prices slipped amid optimism over potential progress toward resolving the Russia-Ukraine conflict.
Upcoming Events:
- 01:15 PM GMT – EUR ADP Non-Farm Employment Change
