Global Markets:
- Asian Stock Markets : Nikkei down 0.40%, Shanghai Composite down 0.18%, Hang Seng up 0.38% ASX up 0.22%
- Commodities : Gold at $2164.5 (-0.26%), Silver at $24.37 (-0.13%), Brent Oil at $82.53 (0.76%), WTI Oil at $78.19 (0.86%)
- Rates : US 10-year yield at 4.142, UK 10-year yield at 3.969, Germany 10-year yield at 2.323
News & Data:
- (USD) Core CPI m/m 0.4% vs 0.3% expected
- (USD) CPI m/m 0.4% vs 0.4% expected
- (USD) CPI y/y 3.2% vs 3.1% expected
Markets Update:
Asia-Pacific markets showed a mixed performance following a surge in Wall Street, triggered by U.S. inflation data that closely aligned with expectations. The Bureau of Labor Statistics reported a 0.4% monthly and 3.2% year-over-year increase in the U.S. consumer price index for February, meeting the predictions of economists polled by Dow Jones.
In Australia, the S&P/ASX 200 continued its upward trend, closing the day 0.22% higher at 7,729.40, building on gains from the previous session. Japan’s Nikkei 225 initially rose but later retreated by 0.13%, and the Topix also declined by 0.16% after early-session gains.
South Korea’s Kospi saw a 0.27% increase following a drop in the February unemployment rate to 2.6%, down from January’s 3%. However, the Kosdaq, a small-cap index, decreased by 0.26%, potentially ending a three-day winning streak.
Hong Kong’s Hang Seng index extended its gains by 0.3%, building on a 3% increase on the previous day, while the mainland CSI 300 dropped by 0.58%.
In the U.S., all three major indexes recorded gains after the inflation data. The S&P500 reached a new record high of 5,175.27, marking a 1.12% increase. The Nasdaq Composite saw a 1.54% gain, driven by renewed interest in tech stocks, leading to a 7% and 11% surge in the shares of Nvidia and Oracle, respectively. The Dow Jones Industrial Average gained 0.61%.
Upcoming Events:
- 3:30 PM GMT – USD Natural Gas Storage
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