Global Markets:
- Asian Stock Markets : Nikkei up 0.97%, Shanghai Composite down -0.04%, Hang Seng up 1.26% ASX up 1.18%
- Commodities : Gold at $4,301.45 (-0.26%), Silver at $63.950 (-0.99%), Brent Oil at $61.68 (0.65%), WTI Oil at $58.01 (0.71%)
- Rates : US 10-year yield at 4.153, UK 10-year yield at 4.4870, Germany 10-year yield at 2.8456
News & Data:
- (USD) Unemployment Claims 236K to 220K expected
Markets Update:
Asian stock markets are trading mostly higher on Friday, supported by mixed cues from Wall Street and ongoing reactions to the US Federal Reserve’s widely expected third consecutive rate cut. The Fed’s softer-than-anticipated outlook on future policy also lifted sentiment, although Asian markets had ended mostly lower on Thursday.
Australian shares are sharply higher, extending Thursday’s strong gains. The S&P/ASX 200 has climbed well past 8,650, led by notable strength in mining stocks, particularly gold miners amid soaring bullion prices. Major miners such as BHP Group, Fortescue and Rio Tinto are advancing nearly 2 percent each. Tech stocks are modestly higher, while oil stocks are mostly weaker. Australia’s currency is trading at $0.666.
Japan’s Nikkei 225 is also trading significantly higher, reversing losses from the previous two sessions. The index has moved above 50,600, supported by index heavyweights and exporter stocks, though technology names remain under pressure. SoftBank and Fast Retailing are posting strong gains, while major automakers and financial stocks are also advancing.
Across the region, markets in New Zealand, Hong Kong, Singapore, South Korea, Malaysia and Taiwan are higher, while China and Indonesia are slightly lower.
On Wall Street, trading was mixed, with the Dow surging to a record close while the Nasdaq pulled back. European markets moved broadly higher. Meanwhile, crude oil prices declined on Thursday, with WTI settling at $57.58 amid oversupply concerns.
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