Global Markets:
- Asian Stock Markets : Nikkei up 1.28%, Shanghai Composite up 1.59%, Hang Seng up 0.71% ASX up 0.53%
- Commodities : Gold at $4,346.30 (-0.41%), Silver at $65.118 (-0.17%), Brent Oil at $59.68 (-0.23%), WTI Oil at $55.86 (-0.25%)
- Rates : US 10-year yield at 4.136, UK 10-year yield at 4.4830, Germany 10-year yield at 2.8491
News & Data:
- (USD) CPI y/y -1.3M to -2.4M expected
- (USD) Unemployment Claims -1.3M to -2.4M expected
Markets Update:
Asian stock markets are trading mostly higher on Friday, buoyed by broadly positive cues from Wall Street after softer-than-expected U.S. inflation data reinforced confidence that the U.S. Federal Reserve may continue cutting interest rates next year. Asian markets had ended mostly lower in the previous session.
The Australian share market is modestly higher, extending Thursday’s gains. The benchmark S&P/ASX 200 is trading above the 8,600 level, supported by strength in technology and financial stocks, though losses in gold miners are limiting upside. The index is up about 0.4 percent, while the broader All Ordinaries Index is also trading higher.
Mining stocks are mixed, with modest losses in BHP Group and Fortescue offset by gains in Rio Tinto and Mineral Resources. Oil stocks are also mixed, as gains in Origin Energy and Beach Energy counter declines in Santos and Woodside Energy. Technology stocks are broadly higher, while major banks are posting solid gains across the board. Gold miners, however, are mostly lower.
In Japan, the market is trading sharply higher, rebounding from the previous session’s losses. The Nikkei 225 has climbed to near the 49,600 level, led by strong gains in automakers, financials and technology stocks. Investors are also watching closely as the Bank of Japan concludes its monetary policy meeting, with expectations of a 25 basis point rate hike.
Elsewhere in Asia, markets across Taiwan, China, Hong Kong, South Korea and Southeast Asia are trading mostly higher. On Wall Street overnight, U.S. stocks rebounded strongly, led by the Nasdaq, while European markets also closed higher. Crude oil prices edged up slightly amid ongoing geopolitical concerns.
Upcoming Events:
- 01:30 PM GMT – CAD Retail Sales m/m
- 01:30 PM GMT – CAD Core Retail Sales m/m
