Global Markets:
- Asian Stock Markets : Nikkei up 1.66%, Shanghai Composite down -0.63%, Hang Seng down -0.83% ASX up 0.28%
- Commodities : Gold at $4,010.60 (-0.13%), Silver at $48.390 (-0.46%), Brent Oil at $63.94 (-0.67%), WTI Oil at $60.15 (-0.69%)
- Rates : US 10-year yield at 4.104, UK 10-year yield at 4.4280, Germany 10-year yield at 2.6375
News & Data:
- (EUR) Main Refinancing Rate 2.15% to 2.15% expected
Markets Update:
Asian stock markets traded mixed on Friday, tracking weak cues from Wall Street as investors reassessed the outlook for U.S. interest rates after Fed Chair Jerome Powell said another rate cut in December is “not a foregone conclusion.” Positive updates from U.S.–China talks, including tariff and trade relaxations, helped limit downside pressure.
The CME FedWatch Tool shows a 72.8% chance of a December rate cut, down from 91% a week earlier. The U.S. agreed to lower tariffs on China-linked fentanyl goods, while China will resume soybean purchases and suspend rare-earth export controls.
In Australia, the S&P/ASX 200 gained 0.21% to 8,903.80, supported by strong gold miners but capped by weakness in tech and energy shares. Gold miners like Northern Star and Evolution Mining surged over 4%. However, Steadfast shares plunged nearly 10% following an internal probe into its CEO, while Mayne Pharma plummeted 32% amid takeover concerns. Producer prices rose 1% in Q3, the fastest since late 2024.
Japan’s Nikkei 225 jumped 1.21% to a record 51,948.26, driven by strong tech and exporter gains. Advantest, Renesas, and Hitachi rallied sharply, though Panasonic and automakers declined. Economic data showed higher retail sales and industrial output in September, while inflation in Tokyo accelerated to 2.8%.
Elsewhere, China, Hong Kong, and Singapore slipped, while New Zealand and South Korea advanced.
Upcoming Events:
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