Global Markets:
- Asian Stock Markets : Nikkei up 1.17%, Shanghai Composite down 0.11%, Hang Seng up 2.39%, ASX down 0.10%
- Commodities : Gold at $1965.40 (-0.05%), Silver at $24.81 (+0.36%), Brent Oil at $80.33 (-0.64%), WTI Oil at $76.56 (-0.70%)
- Rates : US 10-year yield at 3.852, UK 10-year yield at 4.308, Germany 10-year yield at 2.444
News & Data:
- (CAD) Core Retail Sales m/m 0.0% vs 0,2% expected
- (CAD) Retail Sales m/m 0.2% vs 0.5% expected
- (CAD) NHPI 0.1% vs 0,0% expected
Markets Update:
Asian markets showed a mixed performance on Monday as investors closely analyzed key economic data from the region. Hong Kong’s Hang Seng index experienced a significant tumble of 2.39%, mainly driven by losses in real estate stocks, causing a ripple effect of declines in mainland Chinese markets. The Shanghai Composite was down 0.11%, and the Shenzhen Component dropped 0.63%. On a more positive note, South Korea’s Kospi index managed to rise by 0.72%, finishing at 2,628.53 and marking its third consecutive day of gains. However, the Kosdaq saw a 0.5% loss, snapping a nine-day winning streak and closing at 929.9.
Meanwhile, Japan’s markets exhibited strength, with the Nikkei 225 gaining 1.17%, closing at 32,700, and the Topix also rising by 0.83%, closing at 2,281.18. Japan’s business activity expanded for the seventh consecutive month, with the purchasing managers index from the au Jibun bank remaining unchanged from June’s figure of 52.1.
Shifting focus to the Australian markets, the S&P/ASX 200 fell marginally to close at 7,306.4. The decline was triggered by flash estimates for the country’s composite PMI in July, slipping into contraction territory for the first time since March, raising concerns about the Australian economy’s outlook.
In the broader context, U.S. markets displayed mixed performance on the previous Friday. The Dow Jones Industrial Average managed to climb 0.01%, achieving its tenth straight day of gains, an impressive feat not witnessed for the index since August 2017. On the other hand, the S&P 500 added 0.03%, while the Nasdaq Composite fell 0.22%, highlighting the divergent sentiment in the U.S. markets. Investors around the world remain vigilant as economic indicators and geopolitical developments continue to influence global market trends.
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