Global Markets:
- Asian Stock Markets : Nikkei up 0.59%, Shanghai Composite up 0.11%, Hang Seng down 1.29% ASX down 1.97%
- Commodities : Gold at $4,824.25 (-0.96%) Silver at $72.963 (-4.87%), Brent Oil at $67.91 (0.52%), WTI Oil at $63.64 (0.55%)
- Rates : US 10-year yield at 4.182, UK 10-year yield at 4.5610, Germany 10-year yield at 2.8434
News & Data:
- (GBP) Official Bank Rate 3.75% to 3.75% expected
- (EUR) Main Financing Rate 2.15% to 2.15% expected
Markets Update:
Asian stock markets are trading mostly lower on Friday, tracking broadly negative cues from Wall Street overnight, as persistent weakness in technology stocks continues to weigh on sentiment. Concerns over stretched valuations, the evolving impact of artificial intelligence, and ongoing geopolitical and trade uncertainties have further dampened risk appetite. Asian markets closed mostly lower on Thursday.
The Australian market is leading regional losses, extending the previous session’s decline. The benchmark S&P/ASX 200 has slipped well below the 8,750 level, dragged down by broad-based weakness, particularly in technology and mining stocks. Heavy losses in major miners, energy producers, and tech names have compounded the downturn, while banking stocks are also trading modestly lower. Shares of REA Group plunged sharply after disappointing first-half results, while Web Travel Group tumbled following news of a tax audit involving its Spanish subsidiary. The Australian dollar is trading near $0.694.
In contrast, Japanese equities have rebounded after opening lower, recovering some of the steep losses seen in the previous two sessions. The Nikkei 225 is trading higher despite mixed sectoral performance, supported by gains in technology, financials, and exporters. However, losses in select consumer and pharmaceutical stocks have capped broader advances.
Elsewhere in Asia, Hong Kong, Indonesia, Singapore, and South Korea are trading lower, while China is modestly higher. New Zealand markets are closed for the Waitangi Day holiday.
Wall Street closed sharply lower overnight, led by heavy selling in the Nasdaq, while European markets also ended the session in negative territory. Crude oil prices fell sharply amid rising demand concerns following weak U.S. jobs data.
Upcoming Events:
- 01:30 PM GMT – CAD Employment Change
- 01:30 PM GMT – CAD Unemployment Rate
