Global Markets:
- Asian Stock Markets : Nikkei up 0.58%, Shanghai Composite up 0.19%, Hang Seng down 0.92% ASX up 0.72%
- Commodities : Gold at $3344.35 (1.59%), Silver at $33.48 (-0.39%), Brent Oil at $66.08 (0.15%), WTI Oil at $62.30 (0.19%)
- Rates : US 10-year yield at 4.357, UK 10-year yield at 4.5555, Germany 10-year yield at 2.4915
News & Data:
- (USD) Flash Manufacturing PMI 50.7 to 49.0 expected
- (USD) Flash Services PMI 51.4 to 52.8 expected
- (USD) New Home Sales 724K to 684K expected
Markets Update:
Asia-Pacific markets traded mixed on Thursday, following gains on Wall Street amid renewed optimism surrounding U.S.-China trade relations. Hopes of easing trade tensions helped lift investor sentiment across several markets in the region.
Japan’s Nikkei 225 rose over 1%, building on its previous day’s momentum, while the broader Topix index gained 0.81%. In contrast, South Korea’s Kospi slipped 0.47%, and the Kosdaq dipped 0.15%. Meanwhile, Australia’s S&P/ASX 200 added 0.56%.
However, Hong Kong’s Hang Seng index edged down by 0.29%, and mainland China’s CSI 300 remained flat, reflecting cautious investor sentiment in the region.
Economic data from South Korea showed the country’s GDP shrank by 0.1% in the first quarter of 2025, falling short of the 0.1% growth expected in a Reuters poll. The weaker-than-anticipated performance may weigh on regional confidence moving forward.
In the U.S., futures pointed to a more subdued open following two consecutive days of strong gains. S&P 500 futures were up 0.1%, while Nasdaq 100 futures rose nearly 0.1%. Dow Jones futures declined slightly by 45 points, or 0.1%.
Overnight, Wall Street saw a broad rally. The Dow Jones Industrial Average surged 419.59 points, or 1.07%, to close at 39,606.57. The S&P 500 rose 1.67% to 5,375.86, and the Nasdaq Composite jumped 2.50% to finish at 16,708.05. Investor morale was further boosted after President Donald Trump signaled he would retain Jerome Powell as Federal Reserve Chair, providing additional reassurance to the markets.
Upcoming Events:
- 12:30 PM GMT – USD Unemployment Claims
