Global Markets:
- Asian Stock Markets : Nikkei down -0.96%, Shanghai Composite up 0.52%, Hang Seng up 0.87% ASX down -0.33%
- Commodities : Gold at $3,887.90 (0.38%), Silver at $47.280 (1.37%), Brent Oil at $66.19 (0.24%), WTI Oil at $62.52 (0.24%)
- Rates : US 10-year yield at 4.148, UK 10-year yield at 4.7010, Germany 10-year yield at 2.7120
News & Data:
- (AUD) Cash Rate 3.60% to 3.60% expected
- (USD) JOLTS Job Openings 7.23M to 7.19M expected
Markets Update:
Asian stock markets traded mostly higher on Wednesday, taking positive cues from Wall Street, though investor sentiment was tempered by political uncertainty in the U.S., where a short-term spending bill failed, raising the risk of a government shutdown. Still, expectations of further interest rate cuts grew after a sharper-than-expected drop in U.S. consumer confidence.
Australian shares slipped after three sessions of gains, with the S&P/ASX 200 down 29.50 points, or 0.33 percent, at 8,819.30. Miners weighed, with BHP off more than 1 percent and Mineral Resources tumbling over 4 percent, though Fortescue advanced nearly 2 percent. Oil stocks were mostly lower, while tech names fell sharply, led by Block, which dropped more than 6 percent. Among banks, the big four lost nearly 1 percent each. In economic data, Australia’s manufacturing PMI eased to 51.4 in September, still signaling expansion.
Japan’s Nikkei 225 extended losses, dropping 521.37 points, or 1.16 percent, to 44,411.26. Financials and exporters dragged, with banks like Mizuho and Sumitomo Mitsui off nearly 3 percent. Panasonic, Canon and Toyota also declined. However, Otsuka Holdings jumped almost 5 percent. Japan’s Tankan survey showed large manufacturers’ sentiment improving to +14 in Q3, though manufacturing PMI contracted further at 48.5.
Elsewhere in Asia, Taiwan and Indonesia advanced strongly, while Singapore, South Korea, Malaysia and New Zealand posted modest gains. China and Hong Kong remained closed for the National Day holiday.
Upcoming Events:
- 12:15 PM GMT – USD ADP Non-Farm Employment Change
- 02:00 PM GMT – USD ISM Manufacturing PMI
