Global Markets:
- Asian Stock Markets : Nikkei up 0.08%, Shanghai Composite up 0.52%, Hang Seng up 0.25% ASX down 0.06%
- Commodities : Gold at $3,894.40 (1.14%), Silver at $47.35 (0.61%), Brent Oil at $66.26 (-0.20%), WTI Oil at $63.02 (-0.37%)
- Rates : US 10-year yield at 4.145, UK 10-year yield at 4.7000, Germany 10-year yield at 2.7062
News & Data:
- (USD) Pending Home Sales m/m 4.0% to 0.2% expected
Markets Update:
Asian stock markets traded mostly higher on Tuesday, supported by overnight gains on Wall Street and growing expectations of a U.S. Federal Reserve interest rate cut next month. Recent data showed U.S. consumer price inflation rose in line with forecasts for August, strengthening bets on a policy shift. However, sentiment was capped by concerns over a potential partial U.S. government shutdown from October 1, as lawmakers struggle to agree on temporary funding measures.
In Australia, the S&P/ASX 200 inched toward the 8,900 level, with gains in mining and technology stocks offset by losses in energy and financials. BHP and Rio Tinto advanced nearly 2 percent each, while energy majors like Woodside and Santos slipped over 2 percent. Tech names such as Block and Xero gained more than 1 percent. Economic data showed building permits slumped 6 percent in June, far weaker than forecasts, while private sector credit rose 0.6 percent in August, matching expectations.
Japan’s Nikkei 225 edged lower, extending losses from earlier sessions as weak industrial output and retail sales weighed on sentiment. Automakers Honda and Toyota fell nearly 2 percent, while SoftBank and Fast Retailing also traded lower.
Elsewhere in Asia, Indonesia and Taiwan gained over 1 percent, while China, South Korea, and Malaysia slipped slightly. On Wall Street, all three major indexes closed higher Monday, while oil prices tumbled nearly 4 percent amid oversupply concerns.
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