Global Markets:
- Asian Stock Markets : Nikkei up 1.48%, Shanghai Composite up 0.52%, Hang Seng down 0.92% ASX up 0.38%
- Commodities : Gold at $3,862.90 (-0.18%), Silver at $46.80 (0.7%), Brent Oil at $64.49 (0.4%), WTI Oil at $60.9 (0.4%)
- Rates : US 10-year yield at 4.097, UK 10-year yield at 4.7134, Germany 10-year yield at 2.6978
News & Data:
- (EUR) Unemployment Rate 6.3% to 6.2% expected
Markets Update:
Asian stock markets traded mixed on Friday, with mainland China and South Korea closed for holidays. Sentiment was supported by optimism over potential interest rate cuts and a weaker U.S. dollar, though concerns lingered about the U.S. government shutdown, now in its second day, which has delayed key economic data releases. Investors are increasingly pricing in two Fed rate cuts this year and another in 2026, with CME’s FedWatch Tool showing a 98.9% probability of a 25-basis-point cut at the October meeting.
In Australia, the S&P/ASX 200 advanced 0.40% to 8,981.50, led by gains in financials and tech stocks, while miners were mixed. Block surged nearly 5%, Zip gained 2%, and Appen rose over 2%. Major banks posted modest gains, while gold miners traded mostly lower. Notably, DigiCo shares soared 18% after lifting earnings guidance, and Mesoblast rallied over 13% on favorable regulatory recognition.
Japan’s Nikkei 225 surged 1.44% to 45,584.54, driven by strength in exporters and tech. Panasonic jumped nearly 5%, while Renesas and Hitachi rallied almost 9%. Banking and auto stocks also gained. However, Ryohin Keikaku fell 8%. Japan’s August jobless rate unexpectedly rose to 2.6%.
Elsewhere, markets in New Zealand, Singapore, Taiwan, and Indonesia slipped, while Hong Kong and Malaysia also declined. On Wall Street, major averages extended gains for a fifth straight session.
Upcoming Events:
- Tentative GMT – USD Average Hourly Earnings m/m
- Tentative GMT – USD Non-Farm Employment Change
- Tentative GMT – USD Unemployment Rate
