Global Markets:
- Asian Stock Markets : Nikkei down 0.23%, Shanghai Composite down 0.45%, Hang Seng down 0.18%, ASX down 0.74%
- Commodities : Gold at $1932.45 (-0.13%), Silver at $23.185 (-0.93%), Brent Oil at $92.61 (0.63%), WTI Oil at $89.59 (0.64%)
- Rates : US 10-year yield at 4.301, UK 10-year yield at 4.457, Germany 10-year yield at 2.658
News & Data:
- (EUR) German WPI m/m 0.2% vs -0.1% expected
- (GBP) Claimant Count Change 0.9K vs 17.1K expected
- (GBP) Unemployment Rate 4.3% vs 4.3% expected
Markets Update:
Asian-Pacific markets experienced a widespread decline as investors closely scrutinized crucial economic data from Japan and South Korea. South Korea reported its lowest unemployment rate since June 1999, coming in at just 2% for August. In contrast, corporate confidence in Japan dwindled in September, impacting both manufacturers and non-manufacturers, as revealed by the Reuters Tankan poll. Large manufacturers in Japan saw their confidence levels drop from +12 in August to +4, while the non-manufacturers index took a notable nine-point tumble, reaching +23 in September.
In the stock market, Japan’s Nikkei 225, after a three-day winning streak, slid by 0.23%, while the Topix index experienced a milder decline of 0.27%. South Korea’s Kospi inched lower by 0.16%, and the Kosdaq took a more substantial hit, plummeting by 1.16%. Australia’s S&P/ASX 200 also saw a decline, sliding by 0.8%. Hong Kong’s Hang Seng index reversed earlier gains, shedding 0.18%, and mainland Chinese stocks followed suit, with the CSI 300 falling by 0.92%.
In the United States, the story was no different, as all three major indexes faced losses, with investors preparing for the release of inflation figures later in the day. The Nasdaq declined by 1.04%, marking the end of a three-day losing streak. Simultaneously, the S&P 500 dipped by 0.57%, and the Dow Jones Industrial Average registered a modest decline of 0.05%. The global market landscape appeared cautious, with economic data from Japan and South Korea and the anticipation of U.S. inflation figures casting a shadow on investor sentiment.
Upcoming Events:
- 12:30 PM GMT – USD Core CPI m/m
- 12:30 PM GMT – USD CPI m/m
- 12:30 PM GMT – USD CPI y/y
- 1:30 PM GMT – GBP CB Leading Index m/m
- 2:30 PM GMT – USD Crude Oil Inventories
