Global Markets:
- Asian Stock Markets : Nikkei up 0.54%, Shanghai Composite up 1.28%, Hang Seng down 2.35%, ASX up 0.56%
- Commodities : Gold at $1972.25 (0.23%), Silver at $24.56 (0.00%), Brent Oil at $88.45 (-0.12%), WTI Oil at $85.48 (-0.09%)
- Rates : US 10-year yield at 4.199, UK 10-year yield at 4.446, Germany 10-year yield at 2.552
News & Data:
- (USD) Non-Farm Employment Change 187K vs 169K expected
- (USD) Unemployment rate 3.8% vs 3.5% expected
- (CAD) GDP m/m -0.2% vs -0.2% expected
Markets Update:
On Monday, Hong Kong’s Hang Seng index led gains in the region, surging by 2.35%, primarily fueled by a strong performance in property stocks. Concurrently, mainland markets also displayed positive trends, with the CSI 300 index climbing 1.23%. Investors are keeping a close eye on key data releases later in the week, including the Reserve Bank of Australia’s rate decision and China’s forthcoming trade balance for August and inflation rate.
In the Asia-Pacific region, the Australian S&P/ASX 200 index gained 0.56%, while Japan’s Nikkei 225 saw an increase of 0.54%, and the Topix index rose by 0.64%. South Korea’s Kospi index hovered just below the flatline, with the Kosdaq index declining by 0.42%.
Turning to the United States, Friday’s market performance was mixed. Traders were closely scrutinizing the latest U.S. jobs report, which revealed a slight uptick in the unemployment rate to 3.8% for August, its highest level in over a year, contrary to the expected 3.5%. The Dow Jones Industrial Average saw a modest gain of 0.33%, while the S&P 500 index rose by about 0.18%. In contrast, the Nasdaq Composite index recorded a marginal decline of 0.02%.
As the week progresses, market participants remain attentive to further developments, especially the outcomes of important economic events and data releases from both the Asia-Pacific region and the United States, which are likely to influence global market sentiment.
Upcoming Events:
- 1:00 PM GMT – EUR German Buba President Nagel Speaks
- 1:30 PM GMT – EUR ECB President Lagarde Speaks
- 11:01 PM GMT – GBP BRC Retail Sales Monitor y/y
- 11:30 PM GMT – JPY Household Spending y/y
