Global Markets:
- Asian Stock Markets : Nikkei up 0.31%, Shanghai Composite up 0.59%, Hang Seng up 1.86% ASX up 0.07%
- Commodities : Gold at $3,407.90 (-0.31%), Silver at $38.820 (-0.60%), Brent Oil at $67.18 (-0.06%), WTI Oil at $63.66 (-0.03%)
- Rates : US 10-year yield at 4.273, UK 10-year yield at 4.6900, Germany 10-year yield at 2.7191
News & Data:
- (CAD) Core Retail Sales m/m 1.9% to 0.9% expected
- (CAD) Retail Sales m/m 1.5% to 1.3% expected
Markets Update:
Asian stock markets are trading mostly higher on Monday, following Wall Street’s strong rebound on Friday after US Fed Chair Jerome Powell’s dovish comments at Jackson Hole. Powell noted economic risks were “shifting” and hinted that a rate cut could be warranted, boosting investor sentiment. Markets now see an 85.2% chance of a quarter-point cut next month, up from 75% a day earlier.
In Australia, the S&P/ASX 200 gained 0.19% to 8,984.00, recovering prior losses, led by miners and tech stocks. Rio Tinto, BHP and Fortescue rose nearly 3% each, while Mineral Resources advanced over 4%. Tech names Block and Zip surged 6–7%. Gold miners were mostly higher, though Resolute fell 6%. The big four banks slid more than 1% each. Notably, Nuix dropped 8% on a weak earnings update, while Reece tumbled 15% on housing market weakness. Ansell, however, jumped 10% after upbeat results.
Japan’s Nikkei 225 climbed 0.68% to 42,922.33, with gains in SoftBank, Honda, and technology heavyweights like Advantest. Exporters including Canon rose, while Sony dipped nearly 1%. Strong movers included Toto, Sumitomo Pharma, and Mercari, each up 5–7%.
Elsewhere in Asia, Taiwan and Hong Kong rose over 1.9%, while China, South Korea and others posted modest gains. On Wall Street, the Dow surged 1.9% to a record close, with the S&P 500 and Nasdaq also rallying.
Crude oil edged higher, with WTI up 0.2% at $63.65.
Upcoming Events:
- 02:00 PM GMT – USD New Home Sales
