Global Markets:
- Asian Stock Markets : Nikkei up 0.15%, Shanghai Composite up 0.17%, Hang Seng up 0.16% ASX down -0.29%
- Commodities : Gold at $4,352.20 (0.56%), Silver at $66.360 (4.98%), Brent Oil at $59.61 (1.59%), WTI Oil at $55.85 (1.58%)
- Rates : US 10-year yield at 4.161, UK 10-year yield at 4.5200, Germany 10-year yield at 2.8460
News & Data:
- (USD) Core Retail Sales m/m 0.4% to 0.2% expected
- (USD) Non-Farm Employment Change 0.1% to 0.2% expected
- (USD) Unemployment Rate 4.6% to 4.5% expected
Markets Update:
Asian stock markets traded mixed on Wednesday, taking subdued cues from Wall Street overnight after recent U.S. jobs data failed to strengthen expectations of additional interest rate cuts by the Federal Reserve. While job growth in November exceeded forecasts, it followed a sharp contraction in October, leaving investors cautious. Most Asian markets had ended lower in the previous session.
Australian equities continued to edge down, extending losses for a third straight day. The benchmark S&P/ASX 200 slipped below the 8,600 mark, weighed down by weakness in financial and energy stocks, although gains in mining and technology shares helped limit the downside. Gold miners stood out with solid advances, while oil stocks remained under pressure amid falling crude prices. Several individual stocks saw sharp moves following earnings updates, asset sales and management changes.
In Japan, the Nikkei 225 rebounded modestly, recovering part of the losses seen earlier in the week. Gains in technology and heavyweight stocks offset weakness among exporters. Economic data showed a stronger-than-expected rise in core machinery orders in October, pointing to resilient capital spending, while Japan also posted a surprise trade surplus for November.
Elsewhere in Asia, markets in Hong Kong, South Korea, Indonesia and Taiwan posted modest gains, while New Zealand, Singapore and Malaysia traded lower. Chinese markets were largely flat.
On Wall Street, trading remained choppy, with the Nasdaq edging higher while the S&P 500 and Dow closed lower. European markets also finished in the red, and crude oil prices extended recent declines on oversupply concerns.
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