Global Markets:
- Asian Stock Markets : Nikkei up 0.17%, Shanghai Composite down -0.15%, Hang Seng down -0.91% ASX down -0.27%
- Commodities : Gold at $4,219.95 (0.06%), Silver at $58.685 (0.51%), Brent Oil at $62.38 (-0.18%), WTI Oil at $58.74 (-0.24%)
- Rates : US 10-year yield at 4.171, UK 10-year yield at 4.5290, Germany 10-year yield at 2.8666
News & Data:
- (EUR) Sentix Investor Confidence -6.2 to -6.2 expected
Markets Update:
Asian stock markets are mostly lower on Tuesday, tracking the weak performance on Wall Street, as traders remain cautious ahead of the US Federal Reserve’s monetary policy announcement on Wednesday. The Fed is widely expected to cut interest rates by 25 basis points, but traders will closely watch the accompanying statement for hints on further easing next year. The CME FedWatch Tool indicates an almost 90 percent chance of a quarter-point cut, but a lower probability of additional cuts early next year.
Australian shares are slightly lower, extending Monday’s losses, with the S&P/ASX 200 drifting near 8,600 as investors await the domestic interest rate decision. Miners such as Rio Tinto and Fortescue are seeing small gains, while oil stocks and several tech names are under pressure. Banks are trading mixed, and Bapcor shares have slumped after cutting earnings guidance. Immutep has surged following a partnership announcement with Dr. Reddy’s.
Japanese stocks are modestly higher, with the Nikkei rebounding despite mixed sectoral performance. Tech companies, including Tokyo Electron, are advancing, while major exporters such as Sony and Panasonic are also firmer.
Other Asian markets show a mixed trend, with China, Hong Kong, and South Korea lower, while Singapore and Indonesia see mild gains. On Wall Street, major averages slipped into negative territory on Monday after an early rally, while European markets were mixed. Crude oil prices declined as the stronger US dollar weighed on commodities.
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