Global Markets:
- Asian Stock Markets : Nikkei up 3.37%, Shanghai Composite up 0.38%, Hang Seng up 0.23% ASX up 0.70%
- Commodities : Gold at $4288.56 (3.77%) Silver at $83.070 (7.84%), Brent Oil at $66.05 (-0.38%), WTI Oil at $61.94 (-0.32%)
- Rates : US 10-year yield at 4.285, UK 10-year yield at 4.5080, Germany 10-year yield at 2.8663
News & Data:
- (USD) ISM Manufacturing PMI 52.6 to 48.5 expected
Markets Update:
Asian stock markets are trading mostly higher on Tuesday, buoyed by broadly positive cues from Wall Street overnight. Investor sentiment improved amid signs of de-escalating tensions between the U.S. and Iran, following reports that Iran is open to negotiations with the U.S. over its nuclear program. Adding to optimism, U.S. President Donald Trump announced that a trade deal has been reached with India. Asian markets had closed mostly lower on Monday.
A separate report also showed U.S. manufacturing activity unexpectedly expanded in January for the first time in 12 months, further supporting risk appetite. However, traders remain cautious ahead of the closely watched U.S. monthly jobs report due on Friday.
In Australia, the stock market is rebounding sharply on Tuesday, snapping a four-session losing streak. The benchmark S&P/ASX 200 is rising above the 8,850 level, supported by strong gains in mining, technology and banking stocks, while energy shares lag. Major miners and gold stocks are among the top performers, while select oil stocks are weaker.
The Japanese market is also trading sharply higher, reversing losses from the previous two sessions. The Nikkei 225 is surging nearly 3 percent, led by financial, technology and exporter stocks, reflecting improved global risk sentiment.
Elsewhere in Asia, South Korea is posting strong gains, while markets in China, Hong Kong, Singapore, Malaysia and Taiwan are modestly higher. New Zealand and Indonesia are edging lower.
On Wall Street, U.S. stocks closed mostly higher on Monday, led by a strong gain in the Dow. European markets also ended higher. Meanwhile, crude oil prices fell sharply as easing U.S.-Iran tensions reduced geopolitical risk premiums.
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