Global Markets:
- Asian Stock Markets : Nikkei down 2.03%, Shanghai Composite down 0.65, Hang Seng down 0.72% ASX down 0.35%
- Commodities : Gold at $1927.45 (-0.78%), Silver at $22.78 (-0.59%), Brent Oil at $90.66 (-0.28%), WTI Oil at $86.16 (-0.27%)
- Rates : US 10-year yield at 4.675, UK 10-year yield at 4.4455, Germany 10-year yield at 2.765
News & Data:
- (USD) Prelim UoM Consumer Sentiment 63.0 vs 67.2 expected
Markets Update:
Asia-Pacific markets began the week cautiously as investors awaited critical economic data releases from China and Japan. Notably, China is set to unveil its third-quarter gross domestic product figures, with economists anticipating a year-on-year growth of 4.4%, down from the previous quarter’s 6.3%. The People’s Bank of China kept its one-year medium-term lending facility rate unchanged at 2.50%, in line with expectations.
In Japan, attention is on the upcoming release of September inflation data ahead of the central bank’s monetary policy meeting later in the month. South Korea is also poised to announce its rate decision, having maintained a consistent 3.5% rate since February. In the Australian market, the S&P/ASX 200 index experienced a 0.35% decline, while New Zealand’s S&P/NZX 50 Index closed 0.71% lower.
Meanwhile, Japan’s Nikkei 225 index saw a significant drop of 2.03%, with the Topix index down 1.52%. South Korea’s Kospi index recorded a 1% decline. In Hong Kong, the Hang Seng index edged 0.72% lower, while China’s benchmark CSI 300 index fell by 0.63%. These market movements reflect the cautious sentiment in the Asia-Pacific region as investors await key economic data releases later in the week.
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