Global Markets:
- Asian Stock Markets : Nikkei down -1.10%, Shanghai Composite down -0.46%, Hang Seng down -0.15% ASX up 0.17%
- Commodities : Gold at $4,242.75 (0.42%), Silver at $62.307 (2.06%), Brent Oil at $62.16 (-0.08%), WTI Oil at $58.44 (0.03%)
- Rates : US 10-year yield at 4.128, UK 10-year yield at 4.5070, Germany 10-year yield at 2.8563
News & Data:
- (CAD) Overnight Rate 2.25% to 2.25% expected
- (USD) Employment Cost Index q/q 0.8% to 0.9% expected
Markets Update:
Asian markets traded mixed on Thursday, despite broadly positive cues from Wall Street, after the US Federal Reserve cut interest rates for the third straight meeting by a quarter point and signaled only one rate cut in 2026. While most Fed officials supported the move, three dissented, highlighting divisions over the future rate path. Asian markets had ended mostly lower on Wednesday.
Australian shares were modestly higher, breaking a three-session losing streak, supported by strength in mining and technology stocks. The S&P/ASX 200 moved above 8,600, while major miners like Rio Tinto, Fortescue and BHP advanced. Oil stocks were mostly firm, though tech names saw mixed moves. Big banks were slightly higher, and gold miners posted solid gains. Flight Centre shares jumped on news of a UK acquisition, while Fenix Resources surged after unveiling a major production plan. Economic data showed Australia’s unemployment rate steady at 4.3 percent, while job numbers declined.
Japan’s Nikkei 225 traded sharply lower, dragged by weakness in SoftBank, Fast Retailing, automakers and several major industrial names, despite some strength in select technology and manufacturing stocks. The index dropped toward 50,300. The Japanese yen traded in the high 155-per-dollar range.
Across the region, Hong Kong, Singapore, Malaysia and Indonesia posted small gains, while China, Taiwan, South Korea and New Zealand edged lower. On Wall Street, major US indexes closed higher following the Fed decision, while European markets ended mixed. Crude oil prices inched up after a larger-than-expected drop in US inventories.
Upcoming Events:
- 01:30 PM GMT – USD Unemployment Claims
