Global Markets:
- Asian Stock Markets : Nikkei down 0.43%, Shanghai Composite down 1.00%, Hang Seng down 1.85%, ASX up 0.03%
- Commodities : Gold at $1922.50 (+0.39%), Silver at $22.82 (+0.56%), Brent Oil at $84.19 (+0.14%), WTI Oil at $80.62 (+0.27%)
- Rates : US 10-year yield at 4.228, UK 10-year yield at 4.703, Germany 10-year yield at 2.6115
News & Data:
- (USD) Unemployment Claims 239K vs -240K expected
- (USD) CB Leading Index m/m -0.4% vs -0.4% expected
- (USD) Natural Gas Storage 35B vs 35B expected
Markets Update:
Asia-Pacific markets faced declines on Friday due to Japan’s July inflation data and challenges in China’s real estate sector. In Japan, the core inflation rate fell to 3.1%, while headline inflation held steady at 3.3%.
Meanwhile, China’s Evergrande, a troubled real estate giant, began bankruptcy protection proceedings in a U.S. court under Chapter 15 of the bankruptcy code, aiming to safeguard foreign firms undergoing restructuring.
Hong Kong’s Hang Seng index dropped 1.85%, and China’s CSI 300 index lost 0.83%. Japan’s Nikkei 225 decreased by 0.43%, concluding a series of losses. Australia’s S&P/ASX 200 edged up slightly, while South Korea’s Kospi fell 0.61%, marking the sixth consecutive day of losses.
In the U.S., all three major indexes experienced declines on Thursday, as investors grappled with the Federal Reserve’s meeting minutes expressing concerns about inflation and potential interest rate hikes. The Dow Jones Industrial Average dropped 0.84%, closing below its 50-day moving average for the first time since June 1. The S&P 500 fell 0.77%, and the Nasdaq Composite declined by 1.17%.
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