Global Markets:
- Asian Stock Markets : Nikkei down 1.65%, Shanghai Composite down 0.06%, Hang Seng up 0.34% ASX down 0.12%
- Commodities : Gold at $2774.35 (0.26%), Silver at $30.65 (0.38%), Brent Oil at $76.59 (0.49%), WTI Oil at $73.54 (0.43%)
- Rates : US 10-year yield at 4.553, UK 10-year yield at 4.585, Germany 10-year yield at 2.5030
News & Data:
- (USD) New Home Sales 698K vs 669K expected
Markets Update:
Hong Kong stocks rose Tuesday, with the Hang Seng Index gaining 0.14%, following a sharp tech sell-off on Wall Street. Several Asia-Pacific markets, including China, Taiwan, and South Korea, remained closed for the Lunar New Year holiday.
Japan’s Nikkei 225 fell 1.34%, while the Topix traded flat. Japanese chip stocks continued to decline amid concerns over Chinese AI startup DeepSeek challenging U.S. dominance in artificial intelligence. Advantest dropped 11%, Tokyo Electron lost 4.88%, and Renesas Electronics fell 3.07%. Meanwhile, India’s Nifty 50 and BSE Sensex opened higher, gaining 0.36% and 0.54%, respectively, as the Reserve Bank of India announced over $17 billion in liquidity measures, including bond purchases and currency swaps.
Australia’s S&P/ASX 200 declined 0.12% to 8,399.1, as losses in gold miners, energy, and tech stocks offset gains in iron ore miners and financials. In the U.S., the Nasdaq Composite tumbled 3.07% to 19,341.83, and the S&P 500 fell 1.46% to 6,012.28, amid fears of an AI stock bubble bursting due to DeepSeek’s competitive AI model. However, the Dow Jones gained 289.33 points (0.65%) to 44,713.58, supported by Apple, Johnson & Johnson, and Travelers.
Nvidia suffered a historic loss, shedding nearly $600 billion in market cap on Monday—the largest single-day decline for any U.S. company.
Upcoming Events:
- 03:00 PM GMT – USD CB Consumer Confidence
- 03:00 PM GMT – USD Richmond Manufacturing Index
