Global Markets:
- Asian Stock Markets : Nikkei down 0.18%, Shanghai Composite up 0.30%, Hang Seng down 0.41% ASX up 0.45%
- Commodities : Gold at $2050.5 (-0.02%), Silver at $22.47 (-0.34%), Brent Oil at $78.65 (0.06%), WTI Oil at $73.47 (0.17%)
- Rates : US 10-year yield at 4.09, UK 10-year yield at 3.975, Germany 10-year yield at 2.278
News & Data:
- (CAD) Building Permits m/m -14% vs 1.8% expected
- (CAD) Ivey PMI 56.5 vs 55.0 expected
Markets Update:
Asia-Pacific markets saw mixed movements on Wednesday, with Japan’s Nikkei facing a 0.11% decline, in contrast to positive trends in other regions. DBS Group, Southeast Asia’s largest bank, reported a 2% YoY increase in Q4 net profit to $2.39 billion, leading to a 2% rise in its shares. Meanwhile, China’s top chipmaker, SMIC, expressed concerns about global macroeconomic challenges impacting its 2024 business outlook, leading to a 5% fall in its shares in Hong Kong.
In Hong Kong, electric vehicle shares gained momentum following the release of China’s commerce ministry’s plan for the “healthy development of new energy vehicles.” South Korea’s Kospi led Asian gains with a 1.4% increase, while Australia’s S&P/ASX 200 rose by 0.61% after the central bank maintained rates at 4.35%.
Overnight in the U.S., all three major indexes recorded gains on the back of positive quarterly earnings. The S&P 500 rose by 0.23%, the Nasdaq Composite inched up by 0.07%, and the Dow Jones Industrial Average saw a 0.37% jump. Overall, market dynamics reflected a mix of regional economic outlooks and corporate performance influencing investor sentiment.
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