Global Markets:
- Asian Stock Markets : Nikkei down 1.4%, Shanghai Composite up 0.20%, Hang Seng up 0.61% ASX down 0.06%
- Commodities : Gold at $3404.35 (0.19%), Silver at $37.18 (0.5%), Brent Oil at $69.19 (-0.19%), WTI Oil at $67.28 (-0.13%)
- Rates : US 10-year yield at 4.252, UK 10-year yield at 4.524, Germany 10-year yield at 2.6770
News & Data:
- (USD) Non-Farm Employment Change 73K to 106K expected
- (USD) Unemployment Rate 4.2% to 4.2% expected
Markets Update:
Asian stock markets opened mixed on Monday as investors weighed Friday’s Wall Street sell-off and concerns over US President Trump’s sweeping tariff plan. The announcement of new “reciprocal tariffs” on 69 countries — ranging from 15% to 41% — raised fears of a global slowdown. Still, weaker-than-expected US jobs data sparked hopes of a possible Fed rate cut in September, offering some relief.
Australia largely sidestepped the harshest tariffs, with Trade Minister Don Farrell confirming a lower 10% levy on Australian exports. The ASX 200 dipped slightly, dragged down by tech and energy stocks, though strong gains in miners helped cushion the fall. Notable gainers included Fortescue and Mineral Resources, while gold stocks like Northern Star surged.
In Japan, the Nikkei dropped sharply, pulled down by exporters, automakers, and financials. Major names like Toyota, Honda, and SoftBank slid as investor sentiment soured further. The Bank of Japan also reported a continued drop in its monetary base, pointing to tighter liquidity conditions.
Elsewhere in Asia, markets were split: Taiwan and Malaysia saw slight losses, while China and South Korea edged higher.
Wall Street closed deeply in the red Friday, with the Nasdaq plunging over 2%. European markets followed suit, rattled by trade fears. Meanwhile, oil prices tumbled nearly 3%, reflecting worries about demand amid growing trade tensions.
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