Global Markets:
- Asian Stock Markets : Nikkei up 1.67%, Shanghai Composite up 0.5%, Hang Seng up 0.79% ASX down 0.31%
- Commodities : Gold at $3385.35 (-0.19%), Silver at $39.28 (-0.49%), Brent Oil at $68.59 (0.39%), WTI Oil at $65.38 (0.43%)
- Rates : US 10-year yield at 4.396, UK 10-year yield at 4.6420, Germany 10-year yield at 2.6000
News & Data:
- (USD) Existing Home Sales 3.93M to 4.00M expected
- (USD) Crude Oil Inventories -3.2M to -1.4M expected
Markets Update:
Asian stock markets climbed on Thursday, tracking positive cues from Wall Street and reduced fears of a global trade war. Optimism surged after U.S. President Donald Trump announced trade agreements with Japan and the Philippines, raising hopes for further deals ahead of the August 1 deadline. Reports also suggest the U.S. and EU are nearing a 15% tariff agreement to avert broader tensions. Investors welcomed comments from Treasury Secretary Scott Bessent supporting Fed Chair Jerome Powell, reinforcing expectations that U.S. interest rates will remain stable for now.
In Japan, the Nikkei 225 rallied nearly 2%, extending the previous session’s gains and approaching the 42,000 mark. Market strength was broad-based, with notable gains in major exporters, financial stocks, and tech firms. Companies like SoftBank, Fast Retailing, and Mizuho led the charge. Meanwhile, the U.S.–Japan trade deal eased concerns, as it included a lower 15% tariff instead of the previously threatened 25%.
Australia’s ASX 200 saw slight losses due to weakness in miners and mixed sectoral performance, despite Wall Street’s strength. Fortescue rose on record iron ore shipments, while Bapcor shares tumbled nearly 29% after weak sales and a $50 million writedown. Australia’s manufacturing PMI rose to 51.6, signaling continued expansion.
On Wall Street, the Nasdaq and S&P 500 closed at new highs, and European markets finished broadly positive. Oil prices dipped slightly, with WTI crude settling at $65.25 per barrel.
Upcoming Events:
- 05:45 PM GMT – EUR Main Refinancing Rate
- 06:00 PM GMT – USD Unemployment Claims
- 06:15 PM GMT – EUR ECB Press Conference
- 07:15 PM GMT – USD Flash Manufacturing PMI
- 07:15 PM GMT – USD Flash Services PMI
