Global Markets:
- Asian Stock Markets : Nikkei up 1.41%, Shanghai Composite up 0.31%, Hang Seng up 1.95% ASX up 1.65%
- Commodities : Gold at $2392.5 (0.15%), Silver at $29.78 (0.01%), Brent Oil at $82.97 (0.32%), WTI Oil at $78.92 (0.48%)
- Rates : US 10-year yield at 4.32, UK 10-year yield at 4.09, Germany 10-year yield at 2.40
News & Data:
- (CAD) Housing Starts 240K vs 239K expected
- (USD) Core CPI m/m 0.3% vs 0.3% expected
- (USD) Core Retail Sales m/m 0.2% vs 0.2% expected
Markets Update:
Markets across the Asia-Pacific region rallied on Thursday, buoyed by record highs on Wall Street driven by softer inflation data and scrutiny of Japan’s GDP figures. In the U.S., April’s consumer price index rose 0.3%, below Dow Jones’ 0.4% forecast, with a year-on-year increase of 3.4%, in line with market expectations.
Japan’s first-quarter GDP contracted by 2%, exceeding the anticipated 1.5% decline, possibly complicating the Bank of Japan’s interest rate plans. Despite this, Japan’s Nikkei 225 gained 1.4%, while the broader Topix index retreated 0.18% from earlier gains.
Hong Kong’s Hang Seng index rose 1.97% following a holiday, and mainland China’s CSI 300 index edged up 0.1%. South Korea’s Kospi surged by 1%, with the Kosdaq adding 1.04%, resuming trading after a holiday break.
In Australia, the S&P/ASX 200 index jumped 1.7%. The previous day, Wall Street’s main indexes closed at record highs on news of slower-than-expected CPI growth in April, with the Dow Jones Industrial Average rising 0.88%, the S&P 500 up 1.17%, and the Nasdaq Composite climbing 1.40%.
Upcoming Events:
- 12:30 PM GMT – USD Unemployment Claims
- 12:30 PM GMT – USD Building Permits
- 12:30 PM GMT – USD Housing Starts
