Global Markets:
- Asian Stock Markets : Nikkei up 0.41%, Shanghai Composite down -0.55%, Hang Seng up 0.01% ASX up 0.13%
- Commodities : Gold at $4,250.70 (-0.59%), Silver at $57.798 (-2.29%), Brent Oil at $63.17 (0.00%), WTI Oil at $59.37(0.08%)
- Rates : US 10-year yield at 4.090, UK 10-year yield at 4.4830, Germany 10-year yield at 2.7492
News & Data:
- (USD) ISM Manufacturing PMI 48.2 to 49.0 expected
Markets Update:
Asian stocks traded mostly higher on Tuesday, shrugging off negative cues from Wall Street as traders remained optimistic about interest rate cuts following dovish comments from U.S. Fed officials and weak manufacturing data. Markets are also awaiting key U.S. economic releases later in the week, which could influence policy expectations. According to CME Group’s FedWatch Tool, there is an 87.6% chance of a quarter-point rate cut next week.
In Australia, stocks recovered from Monday’s losses, supported by mining, financial and energy gains, while tech shares lagged. The S&P/ASX 200 climbed to around 8,589, with BHP and Rio Tinto advancing, and Block and Zip among notable decliners. Economic data showed building permits fell 6.4% in October, missing forecasts, while the country reported a Q3 current account deficit of A$16.6 billion. The Australian dollar traded at $0.654.
Japan’s Nikkei rebounded, trading above 49,450, lifted by financial and tech shares but pressured by automakers and exporters. SoftBank dropped over 2%, while Fanuc surged more than 8%. The monetary base fell 8.5% year-on-year in November, broadly in line with estimates. The U.S. dollar traded in the upper 155-yen range.
Elsewhere in Asia, South Korea and Taiwan led gains, while China traded lower. On Wall Street, major indexes finished sharply lower, and European shares also declined. Crude oil prices rose as the dollar weakened, with WTI settling at $59.30.
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