Global Markets:
- Asian Stock Markets : Nikkei up 0.49%, Shanghai Composite down 0.06%, Hang Seng up 2.08% ASX up 0.42%
- Commodities : Gold at $2364.5 (1.05%), Silver at $28.88 (1.26%), Brent Oil at $84.47 (0.68%), WTI Oil at $79.91 (0.79%)
- Rates : US 10-year yield at 4.46, UK 10-year yield at 4.18, Germany 10-year yield at 2.48
News & Data:
- (USD) Unemployment Claims 231K vs 212K expected
- (GBP) Official Bank Rate 5.25% vs 5.25% expected
Markets Update:
On Friday, Hong Kong led Asia-Pacific stocks, buoyed by Wall Street’s positive performance and renewed hopes for U.S. Federal Reserve rate cuts. The Hang Seng index soared by 2.08%, reaching its highest level in nine months. This surge followed reports suggesting possible tax exemptions on dividends for individual investors in Hong Kong stocks bought via Stock Connect.
In contrast, mainland China’s CSI 300 experienced a minor dip of 0.28%. Japan saw a 1.2% year-on-year decrease in overall household spending for March, but month-on-month spending rose by 1.2%, surpassing expectations. Japan’s Nikkei 225 rose by 0.49%, while South Korea’s Kospi climbed by 0.73%.
Elsewhere, Australia’s S&P/ASX 200 inched up by 0.42%. In the U.S., all major indexes recorded gains, driven by speculation about potential interest rate cuts following the release of weekly jobless claims data, which hit the highest level since August. The Dow surged by 0.85%, the S&P 500 rose by 0.51%, and the Nasdaq Composite gained 0.27%.
Upcoming Events:
- 12:30 PM GMT – CAD Employment Change
- 12:30 PM GMT – CAD Unemployment Rate
