Global Markets:
- Asian Stock Markets : Nikkei down 0.61%, Shanghai Composite down 0.71, Hang Seng down 2.38% ASX down 0.56%
- Commodities : Gold at $1889.45 (0.38%), Silver at $22.18 (1.05%), Brent Oil at $86.78 (0.88%), WTI Oil at $83.80 (1.07%)
- Rates : US 10-year yield at 4.665, UK 10-year yield at 4.460, Germany 10-year yield at 2.779
News & Data:
- (USD) Core CPI m/m 0.3% vs 0.3% expected
- (USD) PPI m/m 0.4% vs 0.3% expected
- (USD) PPI y/y 3.7% vs 3.6% expected
- (USD) Unemployment Claims 209K vs 211K expected
Markets Update:
Hong Kong stocks took a hit, falling over 2%, leading a broader downturn in the Asia-Pacific markets. This decline was spurred by investors’ reaction to China’s inflation and trade data for September. China’s consumer price index for the month remained flat, missing the 0.2% increase predicted by analysts. Moreover, China’s producer price index saw a 2.5% drop, slightly exceeding Reuters’ projected 2.4% decline.
Japan’s Nikkei 225 dipped by 0.61%, and South Korea’s Kospi showed a more substantial decline of 0.9%. Simultaneously, Australia’s S&P/ASX 200 index registered a 0.56% drop.
In the United States, all three major stock indexes faced losses due to unexpectedly robust U.S. inflation data. The Dow Jones Industrial Average fell by 0.51%, closing at 33,631.14, while the S&P 500 recorded a 0.62% drop, ending at 4,349.61. The Nasdaq Composite saw a 0.63% decrease, closing at 13,574.22. The U.S. consumer price index for September displayed a 0.4% monthly increase and a year-on-year rise of 3.7%. This data followed a stronger-than-expected producer price index reading for September.
In summary, Hong Kong and Asian markets experienced declines in response to China’s economic data, while U.S. markets also faced losses driven by robust inflation figures. These developments reflect the continued impact of economic indicators on global financial markets.
Upcoming Events:
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