Global Markets:
- Asian Stock Markets : Nikkei down -1.60%, Shanghai Composite down -0.16%, Hang Seng down -1.44% ASX down -1.40%
- Commodities : Gold at $4,205.71 (0.24%), Silver at $53.105 (-0.13%), Brent Oil at $63.93 (1.44%), WTI Oil at $59.62 (1.58%)
- Rates : US 10-year yield at 4.106, UK 10-year yield at 4.4400, Germany 10-year yield at 2.6874
News & Data:
- (GBP) GDP m/mc -0.1% to 0.0% expected
Markets Update:
Asian stock markets traded mostly lower on Friday, mirroring the weak cues from Wall Street as uncertainty persisted over whether key U.S. economic reports would be released following the end of the longest government shutdown in U.S. history. Despite President Donald Trump signing a short-term funding bill, the White House indicated that crucial October jobs and inflation data may never be published, leaving markets and the Federal Reserve “flying blind” regarding the strength of the U.S. economy. This lack of clarity has also reduced expectations for another Fed rate cut, with CME FedWatch showing the probability slipping to 51.6 percent.
In Australia, the S&P/ASX 200 fell sharply, dropping below 8,650 with broad weakness across mining, technology, banking and gold sectors. Major miners like BHP, Rio Tinto and Fortescue declined around 2 percent, while tech names such as Block and Zip slumped between 5 and 6 percent. Shares of TPG Telecom plunged nearly 30 percent as they went ex-dividend.
Japan’s Nikkei 225 also dropped significantly, losing 1.65 percent amid heavy selling in technology and heavyweight stocks. Tokyo Electron and Advantest fell sharply, while SoftBank and Fast Retailing also weakened.
Elsewhere in Asia, South Korea, Taiwan, China and Hong Kong traded lower, while Indonesia bucked the trend with modest gains. On Wall Street, major U.S. indexes extended losses, and in commodities, crude oil inched higher as renewed government operations boosted demand optimism.
Upcoming Events:
- 01:30 PM GMT – CAD Manufacturing Sales m/m
- 01:30 PM GMT – CAD Wholesale Sales m/m
