Global Markets:
- Asian Stock Markets : Nikkei up 0.38%, Shanghai Composite up 1.27% Hang Seng up 0.70% ASX up 0.87%
- Commodities : Gold at $4,654.59 (1.89%) Silver at $76.000 (3.29%), Brent Oil at $108.04 (-1.67%), WTI Oil at $100.46 (-1.75%)
- Rates : US 10-year yield at 4.398, UK 10-year yield at 5.0650, Germany 10-year yield at 3.0663
News & Data:
- (USD) ISM Services PMI 53.6 to 53.7 expected
Markets Update:
South Korea’s Kospi surged to another record high on Wednesday as Asia-Pacific markets traded mostly higher, following overnight gains on Wall Street driven by easing oil prices and upbeat corporate earnings.
Investor sentiment improved after U.S. President Donald Trump signaled that diplomatic discussions surrounding the Middle East conflict were progressing. Trump announced that “Project Freedom,” the U.S. operation guiding commercial vessels through the Strait of Hormuz, would be temporarily paused while negotiations continue.
The U.S. military had begun escorting ships through the vital waterway earlier this week after disruptions linked to tensions involving Iran. Defense Secretary Pete Hegseth confirmed that two U.S. commercial ships, accompanied by American destroyers, had safely passed through the strait.
Oil prices declined as concerns over supply disruptions eased. West Texas Intermediate crude futures dropped 1.45% to $100.79 per barrel, while Brent crude futures fell 1.40% to $108.33.
South Korea’s Kospi jumped 5.56%, extending gains of more than 70% this year. Technology giants Samsung Electronics and SK Hynix both reached record highs. China’s CSI 300 rose 0.71%, while Australia’s S&P/ASX 200 gained 0.58%. Hong Kong markets were mostly flat, and Japan remained closed for a holiday. Meanwhile, U.S. stock futures also edged higher.
Upcoming Events:
- 12:15 PM GMT – USD ADP Non-Farm Employment Change
