Global Markets:
- Asian Stock Markets : Nikkei down 1.31%, Shanghai Composite down 0.92%, Hang Seng down 0.27%, ASX up 0.02%
- Commodities : Gold at $1983.75 (+0.17%), Silver at $25.293 (-0.36%), Brent Oil at $79.47 (+0.01%), WTI Oil at $75.28 (+0.01%)
- Rates : US 10-year yield at 3.765, UK 10-year yield at 4.214, Germany 10-year yield at 2.384
News & Data:
- (USD) Housing Starts 1.43M vs 1.48M expected
- (USD) Building Permits 1.44M vs 1.49M expected
- (USD) Crude Oil Inventories -0.7M vs -2.0M expected
Markets Update:
Asian markets showed a mixed performance on Thursday as investors analyzed economic data from the region. China maintained its one and five-year loan prime rates unchanged following the release of its second-quarter GDP, which came in below expectations. Hong Kong’s Hang Seng index rebounded after two consecutive days of losses, experiencing a marginal climb. However, mainland Chinese markets saw declines, with the Shanghai Composite down 0.92% and the Shenzhen Component down 0.7%.
Japan’s Nikkei 225 also faced a downturn of 1.31%, closing at 32,490.52, while the Topix fell 0.79% to 2,260.9. Surprisingly, Japan recorded a trade surplus of 43 billion yen ($308 million), its first surplus in 23 months. South Korea’s Kospi declined by 0.31% to 2,600.23, although the Kosdaq rose by 0.85%, reaching 931.6 and maintaining a 16-month high.
In Australia, the S&P/ASX 200 experienced a marginal increase, closing at 7,325. The country’s unemployment rate for June declined slightly to 3.5% compared to 3.6% in May. Meanwhile, in the United States, all three major indexes saw gains as the corporate earnings season continued. The Dow Jones Industrial Average registered its longest winning streak in almost four years, trading 0.31% higher, securing its eighth consecutive day of gains. The S&P 500 also climbed by 0.24%, while the Nasdaq Composite had the smallest gains, adding 0.03%.
Upcoming Events:
- 12:30 PM GMT – USD Unemployment Claims
- 12:30 PM GMT – USD Philly Fed Manufacturing Index
- 2:00 PM GMT – EUR Consumer Confidence
- 2:00 PM GMT – USD Existing Home Sales
- 2:00 PM GMT – USD CB Leading Index m/m
- 2:30 PM GMT – USD Natural Gas Storage
