Global Markets:
- Asian Stock Markets : Nikkei down 0.75%, Shanghai Composite down 0.05%, Hang Seng up 1.76% ASX up 0.19%
- Commodities : Gold at $2956.35 (0.43%), Silver at $33.25 (1.88%), Brent Oil at $75.19 (0.19%), WTI Oil at $71.37 (0.13%)
- Rates : US 10-year yield at 4.530, UK 10-year yield at 4.490, Germany 10-year yield at 2.419
News & Data:
- (USD) Core PPI m/m 0.3% to 0.3% expected
- (USD) PPI m/m 0.4% to 0.3% expected
- (USD) Unemployment Claims 217K to 213K expected
Markets Update:
Asia-Pacific markets mostly rose on Friday, following Wall Street’s gains after U.S. President Donald Trump signed a reciprocal tariffs plan without immediate enforcement. Japan’s Nikkei 225 fell 0.56%, while the broader Topix remained flat. South Korea’s Kospi gained 0.59%, and the small-cap Kosdaq rose 1.11%. The country’s unemployment rate dropped to 2.9% in January from 3.7% in December. Meanwhile, China’s CSI 300 climbed 0.7%, and Hong Kong’s Hang Seng surged 2.24%, extending its previous session gains.
Australia’s S&P/ASX 200 rose 0.37% after hitting an intra-day record in the previous session. India’s Nifty 50 opened flat, while the BSE Sensex gained 0.29%. India’s wholesale price inflation is expected to rise to 2.5% in January from 2.3% in December, according to LSEG data. In Southeast Asia, Singapore’s economy expanded by 4.4% in 2024, marking its fastest growth since 2021. The country’s GDP grew 5% in Q4, surpassing the 4.7% forecast, though the Straits Times Index dipped 0.12% following the GDP release.
Malaysia’s economy grew 5.1% in 2024, with a 5% GDP expansion in the last quarter, exceeding the 4.8% estimate from Reuters. Investors have closely watched Asian markets as they react to economic data and global trade developments. Strong performances in China, Hong Kong, and Malaysia indicate resilience despite trade uncertainties.
On Wall Street, stocks rallied after fresh inflation data and tariff updates. The Dow Jones climbed 342.87 points (0.77%) to 44,711.43, while the S&P 500 rose 1.04% to 6,115.07. The Nasdaq Composite advanced 1.50% to 19,945.64. The Dow reached session highs after Trump signed a memorandum to examine reciprocal tariffs, stating that foreign non-tariff policies could be deemed unfair trade practices requiring retaliation.
Upcoming Events:
- 01:30 PM GMT – USD Core Retail Sales m/m
- 01:30 PM GMT – USD Retail Sales m/m
