Global Markets:
- Asian Stock Markets : Nikkei up 2.48%, Shanghai Composite down 0.70, Hang Seng up 0.46% ASX up 1.01%
- Commodities : Gold at $1870.45 (0.38%), Silver at $21.88 (-0.19%), Brent Oil at $87.28 (-1.18%), WTI Oil at $85.45 (-1.14%)
- Rates : US 10-year yield at 4.658, UK 10-year yield at 4.50, Germany 10-year yield at 2.762
News & Data:
- (GBP) BRC Retail Sales Monitor y/y 2,8% vs 3.1% expected
- (JPY) Current Account 1.63T vs 2.41T expected
Markets Update:
The Asia-Pacific markets exhibited resilience in the face of increased geopolitical tensions stemming from the attack on Israel by the Palestinian militant group Hamas. Japan’s Nikkei 225 was a standout performer, surging by an impressive 2.4% and leading the regional gains. This surge followed Japan’s return from a public holiday, and the broader Topix index also posted significant gains, rising by 2.09%.
Australia’s S&P/ASX 200 continued its upward trajectory, climbing by 1.01% to close at 7,040.6 points. This gain marked an extension of the positive momentum from the previous trading day, pushing the index above the pivotal 7,000-point threshold. Meanwhile, South Korea’s Kospi initially saw gains but later reversed its course, closing down by 0.18%, while the Kosdaq index experienced a more substantial decline, plummeting by 2.74%.
Hong Kong’s Hang Seng index managed to rise by 0.46%, contrasting with mainland Chinese markets, which found themselves in negative territory, with the CSI 300 falling by 0.39%. A typhoon warning in Hong Kong resulted in a shortened trading day lasting just two hours on Monday.
In the United States, all three major stock indexes experienced a rebound from earlier losses during the trading day. The Dow Jones Industrial Average increased by 0.59%, the S&P 500 gained 0.63%, and the tech-heavy Nasdaq Composite added 0.39%. Despite the prevailing geopolitical tensions, market participants displayed optimism and resilience, with positive performances observed across various Asian and U.S. indices.
Upcoming Events:
- 2:00 PM GMT – USD Final Wholesale Inventories m/m
- 5:00 PM GMT – USD FOMC Member Waller Speaks
