Global Markets:
- Asian Stock Markets : Nikkei up 1.80%, Shanghai Composite up 0.64%, Hang Seng up 0.35% ASX up 0.81%
- Commodities : Gold at $4,421.90 (0.81%), Silver at $69.317 (2.74%), Brent Oil at $60.90 (0.71%), WTI Oil at $56.94 (0.74%)
- Rates : US 10-year yield at 4.169, UK 10-year yield at 4.5290, Germany 10-year yield at 2.8925
News & Data:
- (CAD) Core Retail Sales m/m -0.6% to 0.0% expected
- (CAD) Retail Sales m/m -0.2% to 0.0% expected
Markets Update:
Asian stock markets are trading mostly higher on Monday, supported by strong cues from Wall Street on Friday, where technology stocks rallied on solid earnings and easing concerns over a tech bubble. Continued optimism about further monetary easing by the U.S. Federal Reserve, following softer inflation data, also lifted investor sentiment. Asian markets had ended mostly higher on Friday.
The Australian market is notably higher, extending gains from the previous two sessions. The benchmark S&P/ASX 200 is moving well above the 8,650 level, led by strength in mining and technology stocks. The index is up nearly 1 percent, while the broader All Ordinaries Index is also higher. Major miners such as BHP Group, Rio Tinto and Fortescue are advancing, alongside broad gains in energy and gold stocks. Technology shares show mixed performance, though Appen and Block are posting strong gains. Banking stocks are largely steady. The Australian dollar is trading near $0.661.
In Japan, stocks are sharply higher, with the Nikkei 225 surging close to 2 percent and moving well above the 50,450 level. Gains are led by index heavyweights, financials and technology stocks, including strong advances in SoftBank Group and Tokyo Electron.
Elsewhere in Asia, South Korea and Taiwan are leading gains, while most regional markets are modestly higher.
On Wall Street, stocks closed strongly higher on Friday, with the Nasdaq hitting fresh highs, supported by technology shares. European markets also ended mostly higher. Meanwhile, crude oil prices edged up amid concerns over potential supply disruptions linked to U.S.-Venezuela tensions.
Upcoming Events:
- 01:30 PM GMT – CAD IPPI m/m
- 01:30 PM GMT – CAD RMPI m/m
