Global Markets:
- Asian Stock Markets : Nikkei up 0.55%, Shanghai Composite up 0.13, Hang Seng up 1.46% ASX up 0.68%
- Commodities : Gold at $1876.45 (0.08%), Silver at $22.18 (0.79%), Brent Oil at $88.28 (0.48%), WTI Oil at $86.35 (0.44%)
- Rates : US 10-year yield at 4.638, UK 10-year yield at 4.490, Germany 10-year yield at 2.780
News & Data:
- (USD) Final Wholesale Inventories m/m -0.1% vs -0.1% expected
Markets Update:
Asia-Pacific markets experienced widespread gains, with South Korean stocks leading the rally. South Korea’s Kospi index surged by over 2%, reaching a two-week high, driven by a 3.77% jump in chip giant Samsung Electronics’ stock. Samsung’s third-quarter operating profit forecast exceeded analyst expectations, contributing to the positive momentum. The Kosdaq index also advanced, with a gain of 1.68%. In Australia, the S&P/ASX 200 index increased by 0.68%, closing at 7,085, marking its fifth consecutive day of gains.
In Japan, the Nikkei 225 index rose by 0.55% as investors examined the Reuters Tankan survey, which indicated that business morale at major Japanese firms remained relatively stable. The Topix index overcame earlier losses, finishing the day with slight gains. Hong Kong’s Hang Seng index showed a notable increase of 1.46%, extending its winning streak to a fifth consecutive session. Mainland Chinese markets were also in positive territory, with the benchmark CSI 300 index rising by 0.39%.
In the United States, all three major stock market indexes posted gains. Investors were awaiting crucial inflation data from the world’s largest economy, including the producer price index and consumer price index readings for September, set to be released on Wednesday and Thursday, respectively. Meanwhile, the yield on the 10-year U.S. Treasury note fell by nearly 13 basis points to around 4.65% as investors sought safe-haven assets amid the ongoing Hamas-Israel conflict. It’s important to note that bond yields and prices move inversely.
Upcoming Events:
- 12:30 PM GMT – CAD Building Permits m/m
- 12:30 PM GMT – USD Core PPI m/m
- 12:30 PM GMT – USD PPI m/m
