Global Markets:
- Asian Stock Markets : Nikkei up 0.07%, Shanghai Composite up 0.09%, Hang Seng up 0.41% ASX down 0.41%
- Commodities : Gold at $3045.35 (0.20%), Silver at $34.75 (-0.28%), Brent Oil at $70.35 (-0.35%), WTI Oil at $66.51 (-0.34%)
- Rates : US 10-year yield at 4.300, UK 10-year yield at 4.6480, Germany 10-year yield at 2.8510
News & Data:
- (CAD) CPI m/m 0.3% to 0,3% expected
- (CAD) Median CPI y/y 0.2% to 0.6% expected
- (CAD) Trimmed CPI y/y 0.2% to 0.6% expected
Markets Update:
Asia-Pacific markets showed mixed performance on Wednesday, reacting to Wall Street’s downturn led by a tech sell-off. Japan remained in focus as the Bank of Japan held interest rates steady at 0.5%, aligning with expectations while assessing the impact of U.S. tariffs under President Donald Trump. The Nikkei 225 rose 0.23%, while the Topix index gained 0.73%. In South Korea, the Kospi advanced 0.94%, whereas the Kosdaq declined 0.63% in volatile trade. Mainland China’s CSI 300 remained flat, while Hong Kong’s Hang Seng Index inched up 0.15%. India’s Nifty 50 and BSE Sensex opened neutral, and Australia’s S&P/ASX 200 dropped 0.31%.
Meanwhile, gold prices surged to a record high of $3,034.86 as of 12:08 p.m. Singapore time. U.S. futures edged higher as investors awaited the Federal Reserve’s rate decision. However, all three major U.S. benchmarks declined after two consecutive gains. The Dow Jones Industrial Average fell 260.32 points (0.62%) to 41,581.31, while the S&P 500 dropped 1.07% to 5,614.66. The Nasdaq Composite saw the steepest decline, shedding 1.71% to settle at 17,504.12.
Tesla, among the worst-hit stocks in the market correction, dropped over 5% after RBC Capital Markets lowered its price target, citing increased EV competition. Palantir and Nvidia shares also declined by nearly 4% and over 3%, respectively. The Technology Select Sector SPDR Fund (XLK) fell over 1%, reflecting broader weakness in tech stocks.
Investors continue to monitor market conditions as concerns over interest rates, global economic policies, and sector-specific challenges weigh on sentiment. With the Federal Reserve’s decision looming, volatility remains high, particularly in the technology sector. The focus remains on whether further corrections will unfold or if markets will stabilize in response to upcoming economic data and policy announcements.
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