Global Markets:
- Asian Stock Markets : Nikkei down -0.92%, Shanghai Composite down -0.18%, Hang Seng down -0.18% ASX down -0.48%
- Commodities : Gold at $3,420.70 (0.09%), Silver at $38.792 (0.23%), Brent Oil at $67.94 (-0.41%), WTI Oil at $64.49 (-0.48%)
- Rates : US 10-year yield at 4.305, UK 10-year yield at 4.6900, Germany 10-year yield at 2.7581
News & Data:
- (USD) New Home Sales 652K to 635K expected
Markets Update:
Asian stock markets traded mostly lower on Tuesday, tracking weak cues from Wall Street as investors booked profits after recent gains and stayed cautious ahead of key U.S. data releases, including Q2 GDP and the Fed’s preferred inflation readings later this week. Most regional markets closed higher on Monday.
In Australia, the S&P/ASX 200 slipped 25.70 points, or 0.29 percent, to 8,946.70, weighed by losses in miners and mixed sectoral performance. BHP and Rio Tinto edged down, while Mineral Resources slid over 3 percent and Fortescue lost nearly 2 percent. Oil stocks were mixed, with Santos up almost 1 percent and Woodside marginally lower. Tech shares such as Block, Xero and WiseTech eased, while Appen gained. Gold miners declined, led by a 5 percent drop in Resolute Mining. The RBA released minutes from its August 12 meeting, confirming its third rate cut this year to 3.60 percent. The Aussie dollar traded at $0.648.
Japan’s Nikkei 225 fell 453.29 points, or 1.06 percent, to 42,354.53, reversing two sessions of gains. SoftBank and Fast Retailing lost nearly 2 percent, while automakers were mixed, with Honda lower and Toyota higher. Major exporters and financials weakened, while Nissan plunged more than 6 percent. Rakuten rose almost 3 percent.
Elsewhere, markets in China, Hong Kong, Singapore, South Korea, Malaysia, Taiwan, and Indonesia were all lower, while New Zealand was flat.
On Wall Street, the Dow fell 0.8 percent, the S&P 500 slipped 0.4 percent, and the Nasdaq eased 0.2 percent. Oil prices climbed nearly 2 percent to $64.86 per barrel.
Upcoming Events:
- 12:30 PM GMT – USD Core Durable Goods Orders m/m
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