Global Markets:
- Asian Stock Markets : Nikkei up 0.50%, Shanghai Composite down 1.34%, Hang Seng up 0.18%, ASX up 0.38%
- Commodities : Gold at $1931.20 (+0.27%), Silver at $23.74 (+1.21%), Brent Oil at $83.39 (-0.69%), WTI Oil at $79.14 (-0.67%)
- Rates : US 10-year yield at 4.263, UK 10-year yield at 4.617, Germany 10-year yield at 2.547
News & Data:
- (NZD) Retail Sales q/q -1.0% vs -0.4% expected
- (NZD) Core Retail Sales q/q -1.8% vs -0.2% expected
Markets Update:
In Asia-Pacific markets on Wednesday, there was a mixed performance as investors evaluated private business activity surveys from Australia and Japan, along with inflation data from Singapore.
Starting in Australia, the S&P/ASX 200 rebounded with a 0.38% increase, reaching a closing of 7,148.4. This marked its third consecutive day of gains despite a contraction in business activity, reported by Juno Bank, with the flash composite purchasing managers index for August coming in at 47.1.
Japan’s Nikkei 225 joined the positive sentiment, climbing 0.50% to close at 32,010.26. The Topix also participated in the upward trend, gaining 0.5% and ending at 2,277.05. Both indices maintained their three-day winning streaks, with August’s flash PMI indicating faster business expansion at 54.3 compared to July’s 53.8.
However, South Korea’s Kospi struggled, ending down 0.41% at 2,505.5, while the Kosdaq closed 1.17% lower at 882.87. Hong Kong’s Hang Seng index hovered near neutrality, while mainland Chinese markets experienced negativity, with the CSI 300 index down 0.72%.
Upcoming Events:
- 12:30 PM GMT – CAD Core Retail Sales m/m
- 12:30 PM GMT – CAD Retail Sales m/m
- 1:45 PM GMT – USD Flash Manufacturing PMI
- 1:45 PM GMT – USD Flash Services PMI
