Global Markets:
- Asian Stock Markets : Nikkei down -0.47%, Shanghai Composite down -0.19%, Hang Seng up 0.07% ASX down -0.69%
- Commodities : Gold at $4,000.45 (-0.33%), Silver at $47.890 (-0.33%), Brent Oil at $64.75 (-0.23%), WTI Oil at $60.92 (-0.21%)
- Rates : US 10-year yield at 4.107, UK 10-year yield at 4.4380, Germany 10-year yield at 2.6625
News & Data:
- (USD) ISM Manufacturing PMI 48.7 to 49.4 expected
Markets Update:
Asian stock markets are trading mixed on Tuesday, mirroring Wall Street’s uneven performance overnight, as investors await the U.S. ADP employment report due Wednesday. A survey showed that U.S. manufacturing contracted for an eighth consecutive month in October. With the government shutdown now stretching into its 34th day, traders are closely analyzing limited private data for signals on the economy and interest rate direction. The CME FedWatch Tool indicates a 66.4% probability of another quarter-point rate cut, down from 94.4% a week earlier.
In Australia, the S&P/ASX 200 is down 0.8% to 8,823.30, led by declines in miners, financials, energy, and tech stocks, though gold miners are gaining ahead of the Reserve Bank’s policy announcement. BHP and Rio Tinto are down over 2%, while gold stocks such as Genesis Minerals and Northern Star are up more than 1%. The Aussie dollar is trading at $0.653.
Japan’s Nikkei 225 slipped 0.1% to 52,361.14 after reopening from a holiday, weighed by losses in technology and financial shares. Tokyo Electron jumped 5%, while Screen Holdings tumbled 13%. Japan’s manufacturing PMI fell to 48.2, signaling deeper contraction.
Elsewhere in Asia, South Korea, China, and Taiwan edged lower, while Hong Kong and Malaysia posted modest gains. On Wall Street, the Dow fell 0.5%, but the S&P 500 and Nasdaq rose 0.2% and 0.5%, respectively.
Upcoming Events:
- 09:45 PM GMT – NZD Employment Change q/q
- 09:45 PM GMT – NZD Unemployment Rate
