Global Markets:
- Asian Stock Markets : Nikkei down 0.96%, Shanghai Composite down 1.65%, Hang Seng down 0.01% ASX up 0.60%
- Commodities : Gold at $2673.35 (0.16%), Silver at $29.94 (0.28%), Brent Oil at $76.09 (0.16%), WTI Oil at $73.24 (0.15%)
- Rates : US 10-year yield at 4.559, UK 10-year yield at 4.593, Germany 10-year yield at 2.3665
News & Data:
- (USD) Unemployment Claims 211k vs 222k expected
Markets Update:
China’s stock markets extended their declines on Friday, marking a volatile start to the year, despite positive trends in the broader Asia-Pacific region. The CSI 300 index fell 0.18%, continuing losses from the previous session, while Hong Kong’s Hang Seng index gained 1.36%.
China’s bond market also faced pressure, with 10-year yields dropping to a record low of 1.598% and 30-year yields declining to 1.819%, according to LSEG data. Meanwhile, the People’s Bank of China is reportedly planning an interest rate cut “at an appropriate time” this year, as per the Financial Times. Officials from China’s National Development and Reform Commission announced plans to expand ultra-long bond issuance and boost domestic consumption through subsidies for electronics, increased vocational training, pensions, and support for gig economy workers.
In a separate move, China’s commerce ministry proposed export restrictions on technologies crucial for producing battery components and processing minerals like lithium and gallium.
Elsewhere, South Korean markets appeared unaffected by domestic political turmoil, with the Kospi rising 2.01% and the Kosdaq up 2.30%. SK Hynix shares jumped 5.43% as the chipmaker announced plans to position itself as a leader in AI memory solutions.
Australia’s S&P/ASX 200 climbed 0.72%, while Japan’s markets remained closed for a holiday. Investors across Asia continue to monitor regional developments and global economic trends.
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