Global Markets:
- Asian Stock Markets : Nikkei down 0.98%, Shanghai Composite down 1.03%, Hang Seng down 1.35% ASX down 0.46%
- Commodities : Gold at $4,863.99 (-1.73%) Silver at $74.903 (-10.90%), Brent Oil at $67.93 (-2.17%), WTI Oil at $63.70 (-2.15%)
- Rates : US 10-year yield at 4.262, UK 10-year yield at 4.5520, Germany 10-year yield at 2.8620
News & Data:
- (USD) ADP Non-Farm Employment Change 22K to 46K expected
Markets Update:
Asian markets are trading mostly lower on Thursday, tracking mixed cues from Wall Street overnight as continued weakness in technology stocks weighs on sentiment. The decline mirrors losses on the tech-heavy Nasdaq, driven largely by valuation concerns. Investors also remain cautious amid ongoing geopolitical developments, including Russia-Ukraine peace talks in the U.A.E. and upcoming U.S.-Iran discussions in Oman. Asian markets had closed mixed on Wednesday.
The Australian market is modestly lower, reversing part of the gains from the previous two sessions. The benchmark S&P/ASX 200 is hovering near the 8,900 level, pressured by losses in gold miners and energy stocks, while other sectors show mixed movement. Major miners are mostly weaker, with BHP Group and Fortescue under pressure, while oil stocks are also trading lower. In contrast, technology shares are mixed, with gains in Block and Xero offset by declines in WiseTech Global and Zip. The Australian dollar is trading around $0.698.
Japan’s market is notably lower, extending losses from the prior session. The Nikkei 225 has fallen below the 53,900 level, dragged down by technology stocks, although automakers have provided some support. Heavyweight SoftBank Group has seen sharp losses, while select exporters and pharmaceutical stocks are posting strong gains.
Elsewhere in Asia, South Korea and Hong Kong are sharply lower, while China, Singapore and Taiwan are modestly down. New Zealand, Malaysia and Indonesia are trading slightly higher.
On Wall Street, technology stocks fell sharply on Wednesday, pushing the Nasdaq to its lowest close in over a month, while the Dow managed to post gains. European markets ended mixed, and crude oil prices surged after a larger-than-expected drop in U.S. inventories.
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