Global Markets:
- Asian Stock Markets : Nikkei down 0.13%, Shanghai Composite up 2.05%, Hang Seng up 4.09%, ASX up 0.46%
- Commodities : Gold at $1963.95 (+0.09%), Silver at $24.73 (+0.62%), Brent Oil at $82.67 (+0.23%), WTI Oil at $79.02 (+0.34%)
- Rates : US 10-year yield at 3.882, UK 10-year yield at 4.284, Germany 10-year yield at 2.431
News & Data:
- (EUR) Flash Manufacturing PMI 42.7 vs 43.5 expected
- (EUR) Flash Services PMI 51.1 vs 51,7 expected
- (GBP) Flash Manufacturing PMI 45.0 vs 46.1 expected
- (GBP) Flash Services PMI 51.5 vs 53.1 expected
- (USD) Flash Manufacturing PMI 49.0 vs 46.1 expected
- (USD) Flash Services PMI 52.4 vs 54.0 expected
Markets Update:
On Tuesday, the Hong Kong stock market displayed a robust resurgence, witnessing the Hang Seng index surge by over 4%. This notable boost came in response to China’s Politburo swiftly pledging to “adjust and optimize policies” to support its ailing property sector. Moreover, Beijing’s top decision-making body made a strategic commitment to prioritize stable employment while simultaneously focusing on boosting consumption and tackling debt risks. The positive momentum extended to mainland Chinese stocks, as both the Shenzhen Component and Shanghai Composite registered impressive gains, climbing over 2%.
Meanwhile, in Australia, the S&P/ASX 200 maintained its upward trajectory from the previous day, marking a 0.46% rise to reach a closing value of 7,339.7. Conversely, Japan’s Nikkei 225 experienced a marginal decline, closing at 32,682.51, while the Topix managed to continue its winning streak for a fourth consecutive day, rising by 0.18%. South Korea’s market also contributed to the upbeat sentiment, with the Kospi trading up 0.3% and ending at 2,636.46.
Taking a broader view of the international markets, the United States’ three major indexes displayed positive movement. The Dow Jones Industrial Average marked its longest winning streak since February 2017, extending gains for 11 consecutive days with a 0.52% increase. The S&P 500 also rose, recording a 0.40% uptick, while the Nasdaq Composite added 0.19%. This surge in optimism was fueled by renewed calls for policy support after disappointing economic data emerged last week, spurring efforts to bolster growth in various economies.
Upcoming Events:
- 1:00 PM GMT – EUR Belgian NBB Business Climate
- 1:00 PM GMT – USD HPI m/m
- 1:00 PM GMT – USD S&P/CS Composite-20 HPI y/y
- 2:00 PM GMT – USD CB Consumer Confidence
- 2:00 PM GMT – USD NHPI m/m
