Global Markets:
- Asian Stock Markets : Nikkei down 0.60%, Shanghai Composite down 0.00%, Hang Seng down 0.43% ASX up 0.80%
- Commodities : Gold at $5084.06 (3.00%) Silver at $87.155 (4.62%), Brent Oil at $67.78 (0.64%), WTI Oil at $63.71 (0.81%)
- Rates : US 10-year yield at 4.271, UK 10-year yield at 4.5190, Germany 10-year yield at 2.8889
News & Data:
- (AUD) Cash Rate 3.85% to 3.85% expected
Markets Update:
Asian stock markets are trading mixed on Wednesday, tracking broadly negative cues from Wall Street overnight as sharp losses in technology stocks weighed on sentiment, reflecting the steep decline seen on the Nasdaq. In contrast, gold stocks showed notable strength following a strong rebound in bullion prices, while oil-related stocks advanced after reports that the U.S. Navy shot down an Iranian drone near an aircraft carrier in the Arabian Sea. Most Asian markets had closed higher on Tuesday.
Australian shares are performing strongly, extending gains from the previous session despite weak global cues. The S&P/ASX 200 is trading above the 8,900 level, supported by gains in financial, mining, and energy stocks, although technology stocks remain under pressure. Major miners such as BHP Group and Rio Tinto are posting solid gains, while oil producers like Santos, Woodside Energy, and Beach Energy are also higher. In contrast, tech names including Block, Zip, Xero, and WiseTech Global are seeing sharp declines.
Japanese equities are trading notably lower, reversing part of Tuesday’s strong rally. The Nikkei 225 has slipped below the 54,100 mark, dragged down by index heavyweights and technology stocks, although exporters and automakers are providing some support. Honda and Toyota are higher, while several technology and consumer names are recording steep losses.
Elsewhere in Asia, markets are mixed, with modest gains in China, South Korea, Singapore, and Taiwan, while Hong Kong, New Zealand, and parts of Southeast Asia are edging lower. On Wall Street, U.S. stocks fell sharply on Tuesday, led by a significant drop in the Nasdaq, while crude oil prices surged on expectations of stronger global energy demand.
Upcoming Events:
- 01:15 PM GMT – USD ADP Non-Farm Employment Change
