Global Markets:
- Asian Stock Markets : Nikkei up 0.95, Shanghai Composite down 0.54%, Hang Seng down 2.03%, ASX up 0.11%
- Commodities : Gold at $1942.45 (-0.15%), Silver at $22.80 (-0.14%), Brent Oil at $92.69 (0.82%), WTI Oil at $90.79 (0.85%)
- Rates : US 10-year yield at 4.474, UK 10-year yield at 4.323, Germany 10-year yield at 2.758
News & Data:
- (USD) Flash Manufacturing PMI 48.9 vs 48.2 expected
- (USD) Flash Service PMI 50.2 vs 50.7 expected
Markets Update:
Investors in the Asia-Pacific markets are closely watching inflation data across the region this week. Singapore and Australia are set to announce their inflation figures for August, while Japan will release inflation data for the Tokyo region, which is considered a crucial indicator for nationwide trends.
In specific market movements, Australia’s S&P/ASX 200 futures fell by 0.29% at the beginning of the week. In contrast, Japan’s Nikkei 225 saw a gain of 0.95%, while the Topix index rose by 0.45%, recovering from losses experienced last week. South Korea’s Kospi index decreased by 0.28%, and the Kosdaq fell by 1.34%, extending losses from the previous week.
In the United States on the previous Friday, all three major indexes experienced a fourth consecutive day of losses as investors grappled with signals from the Federal Reserve, which indicated its intention to maintain higher interest rates for an extended period. The S&P 500 and Nasdaq Composite had their worst weeks since March, with the Dow Jones Industrial Average falling by 0.31%, the S&P 500 shedding 0.23%, and the Nasdaq Composite slipping by 0.09%.
Upcoming Events:
- 1:00 PM GMT – EUR ECB President Lagarde Speaks
- 1:00 PM GMT – EUR Belgian NBB Business Climate
- 10:00 PM GMT – USD FOMC Member Kashkari Speaks
