Global Markets:
- Asian Stock Markets : Nikkei up 0.49%, Shanghai Composite down 0.07%, Hang Seng down 1.25%, ASX up 0.36%
- Commodities : Gold at $1935.70 (-0.43%), Silver at $22.57 (-0.61%), Brent Oil at $86.06 (-0.24%), WTI Oil at $82.36 (-0.24%)
- Rates : US 10-year yield at 4.223, UK 10-year yield at 4.671, Germany 10-year yield at 2.6815
News & Data:
- (JPY) Prelim GDP Price Index y/y 3.4% vs 3.8% expected
- (JPY) Prelim GDP q/q 1.5% vs 0.8% expected
Markets Update:
On Tuesday, Asia-Pacific markets displayed a mixed performance following significant data releases from Japan and China.
Japan’s Nikkei 225 index demonstrated a 0.49% increase, concluding at 32,238.89. Likewise, the Topix index also showed a positive movement of 0.41%, reaching a closing value of 2,290.31. This surge was attributed to Japan’s second-quarter gross domestic product surpassing expectations. The country’s economy expanded by 1.5% on a quarterly basis and 6% on an annualized basis. These figures exceeded economist predictions of 0.8% and 3.1%, respectively, as indicated by a Reuters poll.
Across the Australian market, the S&P/ASX 200 index advanced by 0.36%, concluding the trading session at 7,305. Investors assimilated the minutes from the Reserve Bank of Australia’s August monetary policy meeting, where the decision to maintain the benchmark rates at 4.1% caught the market by surprise.
However, Hong Kong’s Hang Seng index experienced a decline of 0.63%, while mainland China’s benchmark index, the CSI 300, retreated by 0.2%. Notably, South Korea’s markets remained closed due to a public holiday.
In the previous U.S. trading session, all three major indexes recorded gains. The S&P 500 and the Nasdaq Composite rebounded notably, driven by a resurgence in chip stocks and technology-related companies. The broader market index recorded a growth of 0.58%, with the tech-focused Nasdaq surging by 1.05%. Simultaneously, the Dow Jones Industrial Average achieved a modest advancement of 0.07%.
Upcoming Events:
- 12:30 PM GMT – USD CPI m/m
- 12:30 PM GMT – USD Median CPI y/y
- 12:30 PM GMT – USD Trimmed CPI y/y
- 12:30 PM GMT – USD Core Retail Sales m/m
- 12:30 PM GMT – USD Empire State Manufacturing Index
- 12:30 PM GMT – USD Retail Sales m/m
