Global Markets:
- Asian Stock Markets : Nikkei up 0.17%, Shanghai Composite up 8.06%, Hang Seng down 2.05% ASX down 0.65%
- Commodities : Gold at $2686.35 (0.24%), Silver at $32.40 (-0.04%), Brent Oil at $77.91 (0.26%), WTI Oil at $73.36 (0.22%)
- Rates : US 10-year yield at 3.843, UK 10-year yield at 4.019, Germany 10-year yield at 2.142
News & Data:
- (USD) Unemployment Claims 225K vs 222K expected
- (USD) ISM Services PMI 54.9 vs 51.7 expected
Markets Update:
Asia-Pacific markets saw mixed results on Friday, following losses on Wall Street as concerns over escalating tensions in the Middle East weighed on investor sentiment ahead of the U.S. payrolls report for September.
Hong Kong’s Hang Seng index surged more than 2%, resuming its rally after dipping 1% in early trading. Australia’s S&P/ASX 200 lost 0.6%, while Japan’s Nikkei 225 gained 0.34% and the Topix added 0.41%. South Korea’s Kospi was up 0.19%, with the Kosdaq rising 0.74%. Mainland Chinese markets remain closed until October 8, but Chinese stocks have been boosted by government support measures.
October trading has been volatile, driven by concerns about rising Middle East tensions. Investors remain cautious following a missile strike by Iran on Israel earlier in the week. U.S. crude oil futures jumped 5% overnight and edged higher again on Friday amid fears that Israel may target Iran’s oil industry in response.
Shipping stocks across Asia tumbled following news of a tentative agreement between a U.S. dockworkers union and the United States Maritime Alliance, halting a three-day strike. Japan’s Nippon Yusen and Kawasaki Kisen fell over 9%, while South Korea’s Pan Ocean and Taiwan’s Yang Ming Marine also saw steep declines.
In the U.S., the Dow Jones dropped 184.93 points, and the S&P 500 and Nasdaq posted modest losses.
Upcoming Events:
- 12:30 PM GMT – USD Average Hourly Earnings m/m
- 12:30 PM GMT – USD Non-Farm Employment Change
- 12:30 PM GMT – USD Unemployment Rate
