Global Markets:
- Asian Stock Markets : Nikkei up 1.92%, Shanghai Composite up 0.09%, Hang Seng down 0.8% ASX down 0.11%
- Commodities : Gold at $3492.35 (1.19%), Silver at $38.48 (0.65%), Brent Oil at $67.29 (-0.49%), WTI Oil at $63.8 (-0.63%)
- Rates : US 10-year yield at 4.244, UK 10-year yield at 4.5490, Germany 10-year yield at 2.6369
News & Data:
- (USD) Official bank rate 4.00% to 4.00% expected
- (USD) Unemployment Claims 226K to 221K expected
Markets Update:
Asian stock markets traded mixed on Friday, tracking the uneven cues from Wall Street as uncertainty persisted over U.S. reciprocal tariffs, which took effect Thursday. The U.S. imposed a 100% tariff on imported semiconductors and chips, exempting domestic builders, and threatened pharmaceutical imports with tariffs of up to 250%. Weak U.S. economic data and jobs figures have fueled expectations of a Federal Reserve rate cut in September, potentially influencing global markets.
In Australia, the S&P/ASX 200 slipped 0.07% to 8,824.90, weighed by losses in financial and tech stocks, partly offset by mining gains. Rio Tinto rose 0.2%, while BHP, Fortescue, and Mineral Resources gained nearly 1% each. Block surged 7.5% on strong results, while Zip dropped 3%.
Japan’s Nikkei 225 jumped 2.22% to 41,968.68, led by exporters and tech stocks. SoftBank soared nearly 11% on robust profits, Sony rose over 6% after lifting its outlook, and Fast Retailing gained almost 3%. Elsewhere in Asia, New Zealand, Malaysia, Indonesia, and Taiwan rose modestly, while Hong Kong, Singapore, and South Korea fell. China was flat.
On Wall Street, the Nasdaq gained 0.4%, the S&P 500 dipped 0.1%, and the Dow slid 0.5%. Oil prices fell, with WTI crude down 0.76% to $63.86 a barrel amid uncertainty over U.S. policy on Russia.
Upcoming Events:
- 12:30 PM GMT – CAD Unemployment rate
- 12:30 PM GMT – CAD Employment Change
