Global Markets:
- Asian Stock Markets : Nikkei down 0.98%, Shanghai Composite up 0.17, Hang Seng down 0.35% ASX down 0.79%
- Commodities : Gold at $2009.05 (0.55%), Silver at $23.267 (1.59%), Brent Oil at $88.26 (-1.09%), WTI Oil at $84.39 (-1.37%)
- Rates : US 10-year yield at 4.875, UK 10-year yield at 4.598, Germany 10-year yield at 2.812
News & Data:
- (USD) Core PCE Price Index m/m 0.3% vs 0.3% expected
- (USD) Personal Income m/m 0.3% vs 0.4% expected
- (USD) Personal Spending m/m 0.7% vs 0.5% expected
Markets Update:
Asia-Pacific markets had a mixed start to the week, with a focus on upcoming key economic data releases across the region. Japan’s Nikkei 225 declined by 0.98% as the Bank of Japan commenced its two-day monetary policy meeting, while South Korea’s Kospi saw a modest increase of 0.35%. Meanwhile, Australia’s S&P/ASX 200 slipped by 0.79% due to unexpectedly high retail sales in September. Hong Kong’s Hang Seng index fell by 0.35%, and mainland China’s CSI 300 index showed marginal gains.
The week’s highlights include monetary policy decisions in Japan and Malaysia, inflation figures from South Korea, and gross domestic growth statistics from Taiwan and Hong Kong. In the United States, all three major indexes had a mixed performance on the previous Friday. The S&P 500 entered a correction phase as renewed concerns about a potential recession prompted selling on Wall Street. The Dow Jones Industrial Average fell by 1.12%, and the S&P 500 decreased by 0.48%. In contrast, the Nasdaq Composite rose by 0.38% to 12,643.01, boosted by Amazon’s better-than-expected third-quarter results.
This week’s economic data releases and monetary policy decisions will be closely watched in the Asia-Pacific region as they play a significant role in shaping market sentiment. The mixed performance in the region reflects the varying impact of these events on different markets. In the United States, concerns about a possible recession led to a correction in the S&P 500, although the Nasdaq Composite bucked the trend due to strong earnings from Amazon. Investors will continue to monitor these developments closely for insights into future market trends.
Upcoming Events:
- 9:45 PM GMT – NZD Building Consents m/m
- 11:30 PM GMT – JPY Unemployment Rate
- 11:50 PM GMT – JPY Retail Sales y/y
