Global Markets:
- Asian Stock Markets : Nikkei down 0.89%, Shanghai Composite down 0.35%, Hang Seng down 0.9% ASX down 0.531%
- Commodities : Gold at $3358.35 (-0.19%), Silver at $39.28 (0.09%), Brent Oil at $69.59 (0.39%), WTI Oil at $66.38 (0.43%)
- Rates : US 10-year yield at 4.393, UK 10-year yield at 4.6220, Germany 10-year yield at 2.6940
News & Data:
- (EUR) Main Refinancing Rate 2.15% to 2.15% expected
- (USD) Unemployment Claims 217K to 227K expected
Markets Update:
Asian markets traded mixed on Friday as investors weighed Wall Street’s uneven performance and awaited further trade deals before the U.S. deadline on August 1. While countries like the UK, China, Vietnam, and Indonesia have finalized agreements, others including Canada, India, South Korea, and the EU are intensifying negotiations. Treasury Secretary Scott Bessent stated talks were progressing, though President Trump warned of tariffs up to 50% on imports from non-compliant nations.
Australia’s ASX 200 slipped below 8,700, dragged down by miners and banks, though energy and tech stocks offered support. BHP and Rio Tinto dropped over 1%, while Santos and Woodside gained. Banks like NAB and Westpac lost nearly 1%. Notably, Newmont jumped 4% on strong earnings, and Icetana surged 14% on revenue growth.
Japan’s Nikkei declined over 250 points as exporters and financials slumped. Automakers like Toyota and Honda slid, and Canon dropped over 4%. Shin-Etsu and Mitsubishi Motors fell sharply after issuing weak outlooks. Conversely, Nidec and Otsuka Holdings gained nearly 3%. Tokyo’s inflation came in slightly below expectations at 2.9%.
Elsewhere, most Asian markets traded lower, with modest gains in South Korea and Taiwan. On Wall Street, the Dow fell 0.7%, while the Nasdaq and S&P 500 hit record highs. Oil prices climbed on larger-than-expected inventory drawdowns.
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