Global Markets:
- Asian Stock Markets : Nikkei up 1.71%, Shanghai Composite down 2.67%, Hang Seng down 2.22% ASX up 0.75%
- Commodities : Gold at $2024.5 (-0.31%), Silver at $22.27 (-1.19%), Brent Oil at $78.22 (-0.61%), WTI Oil at $72.67 (-0.65%)
- Rates : US 10-year yield at 4.137, UK 10-year yield at 3.926, Germany 10-year yield at 2.274
News & Data:
- (CAD) Core retail Sales -0.5% vs 0.1 expected
- (CAD) Retail Sales m/m -0.2% vs 0.0% expected
- (USD) Existing Home Sales m/m 3.78M vs 3.83M expected
Markets Update:
Asia-Pacific markets displayed mixed performance on Monday as China maintained its loan prime rates as expected. The Nikkei 225 reached a nearly 34-year high, closing 1.62% higher at 36,546.95, and the broader Topix gained 1.39% to end at 2,544.92. In contrast, Hong Kong’s Hang Seng index declined by 2.52%, driven by real estate stock losses following the People’s Bank of China’s decision to leave one- and five-year loan prime rates unchanged at 3.45% and 4.2%, respectively. China’s CSI 300 index concluded 1.56% lower at 3,218.90.
The Bank of Japan commenced its two-day monetary policy meeting, with the policy decision expected on Tuesday. Japan is also set to release trade balance data for December on Tuesday and January inflation figures for Tokyo on Friday. Meanwhile, in Australia, the S&P/ASX 200 closed 0.75% higher at 7,476.60, extending gains from Friday and starting the week on a positive note.
South Korea’s Kospi dipped 0.34%, closing at 2,464.35, and the small-cap Kosdaq fell 0.35% to 839.69. South Korea is anticipated to release its gross domestic product figures for Q4 2023 on Wednesday. In the U.S. on Friday, the S&P 500 rose by 1.23% to settle at 4,839.81, surpassing both record intraday and closing highs from January 2022. The Dow Jones Industrial Average increased by 1.05%, reaching its all-time high from the previous year, while the Nasdaq Composite advanced by 1.70%.
Upcoming Events:
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