Global Markets:
- Asian Stock Markets : Nikkei up 0.05%, Shanghai Composite down 1.35%, Hang Seng down 1.99% ASX up 0.29%
- Commodities : Gold at $2052.5 (0.42%), Silver at $23.37 (0.34%), Brent Oil at $82.22 (0.54%), WTI Oil at $77.27 (0.45%)
- Rates : US 10-year yield at 4.044, UK 10-year yield at 3.917, Germany 10-year yield at 2.228
News & Data:
- (JPY) Unemployment Rate 2.4% vs 2.5% expected
Markets Update:
Asia-Pacific markets showed mixed performance on Tuesday, with Hong Kong leading losses due to concerns over Evergrande’s liquidation fallout. The embattled property developer’s shares were halted after a more than 20% plunge, following a Hong Kong court’s decision to liquidate the once-major Chinese real estate firm. Hong Kong’s Hang Seng index dropped over 2%, driven by declines in consumer cyclical and real estate stocks, while the mainland Chinese CSI 300 fell nearly 1%.
In Japan, the Nikkei 225 saw a modest 0.05% uptick, and the broader Topix hovered just above the flatline. Japan reported a lower-than-expected unemployment rate for December at 2.4%, down from the previous month’s 2.5%. South Korea’s Kospi gained 0.27%, while the small-cap Kosdaq edged 0.1% lower. Australia’s S&P/ASX 200 closed up 0.29% at 7,600.20, marking its seventh consecutive day of gains.
In the U.S., the S&P 500 set a new record high, closing at 4,927.93 with a 0.76% increase. Wall Street’s focus was on upcoming mega-cap tech earnings reports and the Federal Reserve’s rate policy decision. The Dow Jones Industrial Average rose by 0.59%, and the Nasdaq Composite gained 1.12%.
Upcoming Events:
- 2:00 PM GMT – USD HPI m/m
- 3:00 PM GMT – USD CB Consumer Confidence
- 3:00 PM GMT – USD JOLTS Job Openings
