Global Markets:
- Asian Stock Markets : Nikkei up 0.71%, Shanghai Composite up 1.09%, Hang Seng down -0.24% ASX down -0.39%
- Commodities : Gold at $3,666.92 (-0.41%), Silver at $41.668 (0.16%), Brent Oil at $67.28 (-0.31%), WTI Oil at $63.46 (-0.33%)
- Rates : US 10-year yield at 4.045, UK 10-year yield at 4.6310, Germany 10-year yield at 2.6539
News & Data:
- (USD) Core PPI m/m -0.1% to 0.3% expected
- (USD) PPI m/m -0.1 to 0.3% expected
Markets Update:
Asian stock markets are trading mixed on Thursday, following uneven cues from Wall Street overnight. Optimism is building that the U.S. Federal Reserve could deliver multiple rate cuts this year after softer-than-expected producer price data, while investors await consumer inflation numbers later in the day. On Wednesday, Asian markets had closed mostly higher.
CME Group’s FedWatch Tool now indicates a 92.1 percent chance of a quarter-point cut and a 7.9 percent chance of a half-point move. However, sentiment in China and Hong Kong has weakened sharply after Mexico imposed tariffs of up to 50 percent on over 1,400 Asian imports, aiming to protect its industries from U.S. trade pressures.
Australia’s S&P/ASX 200 slipped 0.34 percent to 8,800, with losses in financials and technology offset slightly by mining and energy strength. Gold miners rallied, with Evolution Mining up nearly 5 percent, while banks broadly declined.
Japan’s Nikkei 225 rose 0.99 percent to 44,272, lifted by tech gains, including Advantest and Screen Holdings, though automakers and banks fell. SoftBank jumped over 8 percent. Producer prices fell 0.2 percent month-on-month in August, missing expectations.
Elsewhere in Asia, Taiwan and Indonesia gained around 1 percent, while South Korea and Singapore were flat. On Wall Street, the S&P 500 and Nasdaq hit record highs despite late pullbacks, while oil prices surged to $63.70 on geopolitical concerns.
Upcoming Events:
- 12:15 PM GMT – EUR Main Refinancing Rate
- 12:30 PM GMT – USD Core CPI m/m
- 12:30 PM GMT – USD CPI m/m
- 12:30 PM GMT – USD CPI y/y
- 12:30 PM GMT – USD Unemployment Claims
- 12:45 PM GMT – EUR ECB Press Conference
