Global Markets:
- Asian Stock Markets : Nikkei up 0.13%, Shanghai Composite down 0.82, Hang Seng down 0.15% ASX up 0.30%
- Commodities : Gold at $1949.05 (0.72%), Silver at $23.267 (1.09%), Brent Oil at $91.66 (1.89%), WTI Oil at $87.26 (2.07%)
- Rates : US 10-year yield at 4.849, UK 10-year yield at 4.580, Germany 10-year yield at 2.899
News & Data:
- (CAD) CPI m/m -0.1% vs 0.1% expected
- (USD) Retail Sales m/m 0.7% vs 0.3% expected
Markets Update:
Asia’s markets had a turbulent afternoon of trading, reacting to stronger-than-expected economic data from China. China reported 4.9% growth in the July to September quarter compared to the previous year, surpassing economists’ expectations of 4.4%. The country also posted higher-than-expected retail sales data for September and saw a significant drop in urban unemployment.
In response, Hong Kong’s Hang Seng index dipped by 0.15%, and China’s CSI 300 index fell by 0.64%. Meanwhile, Australia’s S&P/ASX 200 ended 0.3% higher, Japan’s Nikkei 225 edged up by 0.13%, South Korea’s Kospi remained flat, and Taiwan’s Taiex dropped by 1.21%.
In the United States, the S&P 500 closed almost unchanged, slipping by just 0.01%. Investors closely watched bond yield movements and monitored the ongoing corporate earnings season. The 10-year U.S. Treasury yield reached 4.8%, its highest level since October 6. This surge followed better-than-expected U.S. retail sales data. The Nasdaq Composite lost 0.25%, while the Dow Jones Industrial Average gained 0.04%.
Upcoming Events:
- 12:15 PM GMT – CAD Housing Starts
- 12:30 PM GMT – USD Building Permits
- 12:30 PM GMT – USD Housing Starts
- 2:30 PM GMT – USD Crude Oil Inventories
