Global Markets:
- Asian Stock Markets : Nikkei down 1.84%, Shanghai Composite up 0.06%, Hang Seng up 0.9% ASX down 0.41%
- Commodities : Gold at $2687.35 (0.24%), Silver at $31.80 (0.54%), Brent Oil at $74.54 (0.36%), WTI Oil at $70.8 (0.52%)
- Rates : US 10-year yield at 4.03, UK 10-year yield at 4.164, Germany 10-year yield at 2.228
News & Data:
- (CAD) CPI m/m -0.4% vs -0.2% expected
- (CAD) Median CPI y/y 2.3% vs 2.3% expected
- (CAD) Trimmed CPI y/y 2.4% vs 2.4% expected
- (CAD) Common CPI y/y 2.1% vs 2.1% expected
Markets Update:
Asia-Pacific markets experienced a downturn on Wednesday, led by Japan’s Nikkei index, following declines on Wall Street. Investors are anticipating further stimulus measures to support China’s struggling real estate sector, with the housing minister, Ni Hong, scheduled to hold a press briefing on Thursday at 10 a.m. local time. He will be joined by officials from the central bank, finance ministry, and National Financial Regulatory Administration.
In response to these developments, China’s CSI 300 Real Estate Index surged by 4.45%, while the broader CSI 300 index saw a modest decline of 0.3%. The Hang Seng Mainland Properties Index rose over 5%, significantly outpacing the Hang Seng index’s 0.9% increase. Hong Kong’s Chief Executive John Lee emphasized improving residents’ livelihoods in his annual policy address, focusing on reducing public housing wait times and simplifying listing procedures for companies in the city.
Regional economic data showed New Zealand’s consumer price index for the third quarter rose by 2.2% year on year, aligning with expectations. Meanwhile, South Korea reported a slight uptick in its unemployment rate to 2.5% in September, compared to 2.4% in August.
In Japan, the Nikkei 225 dropped 1.83% to close at 39,180.3, while the Topix fell 1.2% to 2,690.66. Other markets in the region, including Taiwan, Australia, and South Korea, also recorded losses. U.S. markets had a rough session, with the Dow Jones Industrial Average losing 324.80 points, or 0.75%. Meanwhile, oil futures inched up after a significant drop due to geopolitical tensions.
Upcoming Events:
- 12:30 PM GMT – CAD Manufacturing Sales m/m
- 12:30 PM GMT – USD Import Prices m/m
