Global Markets:
- Asian Stock Markets : Nikkei up 1.13%, Shanghai Composite up 0.05%, Hang Seng up 0.57% ASX up 0.45%
- Commodities : Gold at $2376.5 (1.16%), Silver at $28.17 (1.32%), Brent Oil at $90.83 (0.58%), WTI Oil at $86.87 (0.48%)
- Rates : US 10-year yield at 4.39, UK 10-year yield at 4.07, Germany 10-year yield at 2.403
News & Data:
- (USD) German Trade Balance 21.4 vs 25.1 expected
Markets Update:
Asia-Pacific markets showed a mixed trend on Tuesday as investors digested consumer confidence data from Japan and kept an eye on U.S. inflation figures to gauge the Federal Reserve’s stance on rate cuts. In Australia, the National Australian Bank’s survey indicated little change in business conditions and confidence for March, with business conditions slightly declining by one point to +9 and business confidence ticking up by one point to +1, remaining below the average mark.
Japan’s consumer confidence index reached its highest level since May 2019, with 92.4% of respondents anticipating price increases by March next year. The Nikkei 225 rose by 1.08% to 39,773.13, and the broader Topix index gained 0.97% to close at 2,754.69. However, South Korea’s Kospi retreated by 0.46% to close at 2,705.16, reversing earlier gains, while the Kosdaq, representing small-cap stocks, ended down by 0.14% at 859.33.
In Hong Kong, the Hang Seng index climbed by 0.7%, while the mainland Chinese CSI300 index saw a marginal dip, closing at 3,533.49. Australia’s S&P/ASX 200 rebounded from Monday’s losses, rising by 0.45% to close at 7,824.2.
In the U.S., major indexes remained range-bound overnight as investors awaited the consumer price index report scheduled for Wednesday. The Dow Jones Industrial Average slipped by 0.03%, the S&P 500 edged down by 0.04%, and the Nasdaq Composite closed marginally higher by 0.03%. Treasury yields rose, with the yield on the 10-year Treasury note increasing by about 4 basis points to 4.42%.
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